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.
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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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.
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