Fastenal (NASDAQ:FAST) Director Sells $705,449.16 in Stock

Fastenal Company (NASDAQ:FAST) Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This represents a 24.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fastenal Trading Down 0.7%

Fastenal stock opened at $43.32 on Friday. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The firm has a market capitalization of $49.73 billion, a PE ratio of 39.38, a PEG ratio of 2.78 and a beta of 0.90. The business’s 50-day simple moving average is $41.79 and its 200-day simple moving average is $44.45.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 EPS. Equities research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s payout ratio is presently 80.00%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent research reports. Barclays set a $43.00 target price on Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Wolfe Research decreased their price objective on Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Wednesday, January 21st. Robert W. Baird lowered their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. UBS Group reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $48.00.

Institutional Trading of Fastenal

Several institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. lifted its holdings in shares of Fastenal by 1.5% during the fourth quarter. D.A. Davidson & CO. now owns 70,342 shares of the company’s stock valued at $2,823,000 after acquiring an additional 1,048 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Fastenal by 0.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 541,026 shares of the company’s stock valued at $21,711,000 after purchasing an additional 2,884 shares during the last quarter. Inscription Capital LLC acquired a new position in Fastenal in the fourth quarter valued at about $302,000. Huntleigh Advisors Inc. boosted its position in Fastenal by 10.1% in the fourth quarter. Huntleigh Advisors Inc. now owns 79,667 shares of the company’s stock valued at $3,197,000 after buying an additional 7,288 shares in the last quarter. Finally, High Point Wealth Management LLC bought a new stake in Fastenal during the fourth quarter worth about $42,000. 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.