Insider Selling: Fastenal (NASDAQ:FAST) VP Sells 23,480 Shares of Stock

Fastenal (NASDAQ:FAST) VP Charles S. Miller sold 23,480 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fastenal Stock Down 0.3 %

NASDAQ FAST traded down $0.25 during trading hours on Friday, hitting $81.91. The company’s stock had a trading volume of 701,770 shares, compared to its average volume of 3,307,726. The company has a market capitalization of $46.93 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 4.90 and a beta of 0.99. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. Fastenal has a 52 week low of $59.47 and a 52 week high of $84.88. The company’s 50-day simple moving average is $74.64 and its two-hundred day simple moving average is $69.13.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the business earned $0.52 EPS. The business’s revenue was up 3.5% on a year-over-year basis. Research analysts anticipate that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.90%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of recent analyst reports. UBS Group assumed coverage on Fastenal in a report on Wednesday. They set a “neutral” rating and a $88.00 price target for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 target price (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Bank of America assumed coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price target on the stock. Morgan Stanley boosted their target price on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Stephens increased their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $74.80.

Hedge Funds Weigh In On Fastenal

Several institutional investors have recently added to or reduced their stakes in FAST. King Luther Capital Management Corp raised its stake in shares of Fastenal by 1.6% in the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock valued at $619,000 after buying an additional 136 shares during the period. Verdence Capital Advisors LLC increased its holdings in Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after acquiring an additional 142 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Fastenal by 5.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after acquiring an additional 143 shares during the period. Compass Ion Advisors LLC lifted its holdings in Fastenal by 1.5% during the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after purchasing an additional 146 shares during the last quarter. Finally, Catalina Capital Group LLC boosted its position in Fastenal by 4.5% during the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after purchasing an additional 146 shares during the period. Institutional investors own 81.38% of the company’s stock.

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.