Fastenal Company (NASDAQ:FAST) Given Consensus Rating of “Hold” by Brokerages

Shares of Fastenal Company (NASDAQ:FAST) have been assigned an average rating of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $48.7273.

A number of equities research analysts have weighed in on FAST shares. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target on the stock in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Monday. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research note on Monday. UBS Group raised shares of Fastenal from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $52.00 in a research report on Monday, December 15th. Finally, Robert W. Baird decreased their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th.

Fastenal Stock Down 1.0%

FAST stock opened at $40.87 on Wednesday. Fastenal has a twelve month low of $35.31 and a twelve month high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company has a market cap of $46.92 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 3.30 and a beta of 0.89. The business’s 50-day simple moving average is $41.18 and its 200 day simple moving average is $44.43.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business posted $0.26 EPS. Fastenal’s revenue was up 11.7% compared to the same quarter last year. On average, research analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.2%. Fastenal’s payout ratio is currently 82.24%.

Insider Buying and Selling at Fastenal

In other news, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $198,000. This trade represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at $495,800. The trade was a 11.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 3,000 shares of company stock valued at $131,630 over the last quarter. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of Fastenal

Several hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares during the last quarter. Advisory Alpha LLC boosted its stake in Fastenal by 5.8% in the first quarter. Advisory Alpha LLC now owns 3,407 shares of the company’s stock worth $264,000 after purchasing an additional 187 shares in the last quarter. Sowell Financial Services LLC grew its holdings in shares of Fastenal by 4.7% during the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock worth $260,000 after purchasing an additional 238 shares during the last quarter. L2 Asset Management LLC increased its stake in shares of Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock valued at $264,000 after buying an additional 248 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV increased its stake in shares of Fastenal by 1.7% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.