Fastenal Co. (FAST) Lowered to “Hold” at Argus
FAST has been the subject of a number of other research reports. Zacks Investment Research raised shares of Fastenal from a sell rating to a hold rating in a research report on Tuesday, September 13th. Morgan Stanley initiated coverage on shares of Fastenal in a research note on Thursday, July 7th. They set an equal weight rating and a $46.00 target price for the company. BMO Capital Markets restated a market perform rating and set a $47.00 target price on shares of Fastenal in a research note on Wednesday, July 13th. Macquarie initiated coverage on shares of Fastenal in a research note on Thursday, August 25th. They set a neutral rating and a $50.00 target price for the company. Finally, Wells Fargo & Co. restated a hold rating on shares of Fastenal in a research note on Sunday, September 4th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $47.15.
Fastenal (NASDAQ:FAST) traded up 0.42% during mid-day trading on Friday, reaching $38.50. 1,152,740 shares of the company were exchanged. The company’s 50 day moving average price is $41.29 and its 200-day moving average price is $43.99. Fastenal has a 12-month low of $35.10 and a 12-month high of $49.99. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 22.00 and a beta of 0.99.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm earned $1.01 billion during the quarter. During the same period in the previous year, the business posted $0.47 earnings per share. Fastenal’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Fastenal will post $1.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, October 21st. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.
Several large investors have recently made changes to their positions in FAST. FineMark National Bank & Trust raised its stake in shares of Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock valued at $152,000 after buying an additional 20 shares during the period. Strategic Advisors LLC raised its stake in shares of Fastenal by 0.4% in the second quarter. Strategic Advisors LLC now owns 13,304 shares of the company’s stock valued at $591,000 after buying an additional 47 shares during the period. Raymond James Trust N.A. raised its stake in shares of Fastenal by 0.3% in the third quarter. Raymond James Trust N.A. now owns 16,934 shares of the company’s stock valued at $708,000 after buying an additional 48 shares during the period. Washington Trust Bank raised its stake in shares of Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares during the period. Finally, First Allied Advisory Services Inc. raised its stake in shares of Fastenal by 0.5% in the second quarter. First Allied Advisory Services Inc. now owns 14,726 shares of the company’s stock valued at $652,000 after buying an additional 79 shares during the period. 82.15% of the stock is currently owned by institutional investors.
Fastenal Company Profile
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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