Fastenal Co. (NASDAQ:FAST) shares gapped up prior to trading on Thursday . The stock had previously closed at $41.63, but opened at $42.06. Fastenal shares last traded at $42.96, with a volume of 1,993,575 shares changing hands.

A number of research analysts have commented on the stock. Robert W. Baird reaffirmed a “hold” rating on shares of Fastenal in a research report on Sunday, May 8th. Zacks Investment Research cut shares of Fastenal from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 14th. Avondale Partners upped their target price on shares of Fastenal from $49.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, April 7th. Credit Suisse Group AG upped their target price on shares of Fastenal from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, April 14th. Finally, Vetr cut shares of Fastenal from a “strong-buy” rating to a “buy” rating and set a $49.34 target price on the stock. in a research report on Monday, May 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.77.

The stock has a market cap of $12.25 billion and a PE ratio of 24.23. The firm has a 50 day moving average price of $43.46 and a 200-day moving average price of $44.74.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, July 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.03. The business earned $1.01 billion during the quarter. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. Equities research analysts predict that Fastenal Co. will post $1.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Tuesday, July 26th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Friday, July 22nd.

Other hedge funds have modified their holdings of the company. Ashmore Wealth Management LLC raised its stake in shares of Fastenal by 6.7% in the fourth quarter. Ashmore Wealth Management LLC now owns 5,550,000 shares of the company’s stock worth $226,551,000 after buying an additional 350,000 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Fastenal by 53.8% in the fourth quarter. Bank of Montreal Can now owns 187,543 shares of the company’s stock worth $7,657,000 after buying an additional 65,618 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Fastenal by 25.1% in the fourth quarter. BlackRock Advisors LLC now owns 284,881 shares of the company’s stock worth $11,629,000 after buying an additional 57,158 shares during the last quarter. Nicholas Co. Inc. WI raised its stake in shares of Fastenal by 22.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 309,565 shares of the company’s stock worth $12,636,000 after buying an additional 56,540 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of Fastenal by 9.4% in the fourth quarter. American International Group Inc. now owns 444,247 shares of the company’s stock worth $18,133,000 after buying an additional 37,997 shares during the last quarter.

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.

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