Fastenal (NASDAQ:FAST) Sees Significant Growth in Short Interest

Fastenal (NASDAQ:FAST) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 12,050,000 shares, a growth of 6.5% from the December 31st total of 11,310,000 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily volume of 2,810,000 shares, the short-interest ratio is presently 4.3 days.

Insider Buying and Selling

In other news, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. This trade represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,772 shares of company stock valued at $5,365,455 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FAST. Ashton Thomas Securities LLC purchased a new stake in shares of Fastenal in the third quarter worth approximately $25,000. Knuff & Co LLC purchased a new stake in shares of Fastenal in the third quarter worth approximately $27,000. Moisand Fitzgerald Tamayo LLC raised its stake in shares of Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the last quarter. First Personal Financial Services purchased a new stake in shares of Fastenal in the third quarter worth approximately $36,000. Finally, CVA Family Office LLC grew its holdings in shares of Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after acquiring an additional 180 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Up 0.0 %

Shares of NASDAQ:FAST opened at $73.24 on Tuesday. The company has a market capitalization of $41.96 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 3.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The business’s 50-day moving average is $76.43 and its 200-day moving average is $73.78. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a dividend of $0.43 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is 85.57%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Stephens lifted their price target on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. UBS Group initiated coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley lifted their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Company Profile

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.