Charles S. Miller Sells 26,250 Shares of Fastenal (FAST) Stock

Fastenal (NASDAQ:FAST) insider Charles S. Miller sold 26,250 shares of Fastenal stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the sale, the insider now directly owns 26,250 shares of the company’s stock, valued at $1,483,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Fastenal (NASDAQ FAST) traded down $1.22 during midday trading on Monday, hitting $56.47. 2,383,538 shares of the stock were exchanged, compared to its average volume of 3,261,202. The firm has a market capitalization of $16,591.16, a PE ratio of 28.23, a P/E/G ratio of 1.67 and a beta of 1.09. Fastenal has a 52-week low of $39.79 and a 52-week high of $57.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. research analysts forecast that Fastenal will post 2.46 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, January 30th. This is a boost from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a yield of 2.62%. Fastenal’s payout ratio is 63.68%.

Institutional investors have recently added to or reduced their stakes in the stock. Exane Derivatives purchased a new position in Fastenal during the fourth quarter worth about $110,000. Fuller & Thaler Asset Management Inc. purchased a new position in Fastenal during the third quarter worth about $114,000. Cable Hill Partners LLC purchased a new position in Fastenal during the third quarter worth about $126,000. Krilogy Financial LLC boosted its holdings in Fastenal by 2.0% during the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after purchasing an additional 70 shares during the last quarter. Finally, QS Investors LLC boosted its holdings in Fastenal by 1.6% during the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock worth $176,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

FAST has been the subject of a number of analyst reports. Credit Suisse Group reiterated an “outperform” rating and set a $61.00 price objective (up from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. KeyCorp reiterated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a report on Thursday, October 12th. Stephens lifted their price objective on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $51.00 price objective on shares of Fastenal in a report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Fastenal has an average rating of “Buy” and an average target price of $53.29.

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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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