Fastenal (FAST) Insider Leland J. Hein Sells 10,000 Shares

Fastenal (NASDAQ:FAST) insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Fastenal (NASDAQ:FAST) traded up $1.15 on Thursday, reaching $52.39. 4,328,222 shares of the company’s stock were exchanged, compared to its average volume of 2,796,745. Fastenal has a 1 year low of $39.79 and a 1 year high of $52.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. The firm has a market capitalization of $14,484.48, a P/E ratio of 26.81, a P/E/G ratio of 1.87 and a beta of 1.06.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. analysts forecast that Fastenal will post 1.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.44%. Fastenal’s dividend payout ratio is currently 68.09%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in shares of Fastenal by 357.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock valued at $79,340,000 after purchasing an additional 1,423,856 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Fastenal in the 3rd quarter valued at $64,702,000. Bank of New York Mellon Corp boosted its stake in shares of Fastenal by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after purchasing an additional 1,297,185 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Fastenal by 580.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock valued at $68,218,000 after purchasing an additional 1,276,832 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Fastenal in the 3rd quarter valued at $56,907,000. Hedge funds and other institutional investors own 84.65% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Fastenal from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Thursday, August 3rd. Morgan Stanley restated an “equal weight” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and issued a $46.00 price objective on shares of Fastenal in a research note on Tuesday, August 22nd. Finally, Stephens set a $54.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.80.

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About Fastenal

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Insider Buying and Selling by Quarter for Fastenal (NASDAQ:FAST)

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