Fastenal Target of Unusually Large Options Trading (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) saw unusually large options trading activity on Thursday. Stock traders acquired 8,477 put options on the stock. This is an increase of approximately 246% compared to the average daily volume of 2,451 put options.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $69.88 on Friday. Fastenal has a fifty-two week low of $50.30 and a fifty-two week high of $79.04. The firm’s 50-day simple moving average is $73.74 and its 200 day simple moving average is $65.72. The company has a quick ratio of 2.27, a current ratio of 4.57 and a debt-to-equity ratio of 0.06. The stock has a market cap of $39.99 billion, a P/E ratio of 34.59, a P/E/G ratio of 3.92 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.72% and a return on equity of 34.31%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.23%. Fastenal’s dividend payout ratio is currently 77.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FAST shares. Stifel Nicolaus raised their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Robert W. Baird raised their target price on Fastenal from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus price target of $68.20.

Insider Transactions at Fastenal

In other news, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,682 shares of company stock valued at $7,375,853. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fastenal

A number of hedge funds and other institutional investors have recently modified their holdings of FAST. Norges Bank bought a new stake in Fastenal in the fourth quarter worth about $405,513,000. Confluence Investment Management LLC bought a new stake in Fastenal in the first quarter worth about $195,459,000. Morgan Stanley raised its position in Fastenal by 37.8% in the fourth quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after acquiring an additional 2,492,722 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Fastenal by 38.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,060,126 shares of the company’s stock worth $392,514,000 after acquiring an additional 1,668,988 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Fastenal by 47.3% in the third quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after acquiring an additional 1,505,936 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.