Fastenal (FAST) Short Interest Update

Fastenal (NASDAQ:FAST) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 30,644,857 shares, an increase of 24.6% from the January 12th total of 24,590,098 shares. Currently, 10.7% of the shares of the company are short sold. Based on an average trading volume of 4,067,557 shares, the days-to-cover ratio is presently 7.5 days.

FAST has been the topic of a number of recent analyst reports. Credit Suisse Group reiterated an “outperform” rating and set a $61.00 price target (up from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. KeyCorp reiterated a “buy” rating and set a $52.00 price target on shares of Fastenal in a research note on Thursday, October 12th. Stifel Nicolaus reiterated a “hold” rating and set a $51.00 price target on shares of Fastenal in a research note on Monday, December 11th. Finally, Stephens boosted their price target on shares of Fastenal from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $53.29.

Shares of Fastenal (FAST) traded up $1.33 on Friday, hitting $53.48. 3,698,539 shares of the company traded hands, compared to its average volume of 3,342,928. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $15,370.00, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 1.52 and a beta of 1.03. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $57.81.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. equities research analysts expect that Fastenal will post 2.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.37 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.77%. Fastenal’s dividend payout ratio is presently 73.63%.

In other news, insider Terry Modock Owen sold 30,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Leland J. Hein sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the transaction, the insider now owns 22,588 shares in the company, valued at $1,151,988. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,884 shares of company stock worth $4,059,512. Company insiders own 0.55% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Exane Derivatives acquired a new position in Fastenal during the fourth quarter worth approximately $110,000. Fuller & Thaler Asset Management Inc. acquired a new position in Fastenal during the third quarter worth approximately $114,000. SeaCrest Wealth Management LLC acquired a new position in Fastenal during the fourth quarter worth approximately $115,000. Cable Hill Partners LLC acquired a new position in Fastenal during the third quarter worth approximately $126,000. Finally, Krilogy Financial LLC increased its position 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. 84.40% of the stock is currently owned by institutional investors and hedge funds.

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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.

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