Insider Buying: Fastenal Company (FAST) Director Purchases 350 Shares of Stock
Fastenal Company (NASDAQ:FAST) Director Daniel L. Johnson acquired 350 shares of the company’s stock in a transaction on Monday, April 17th. The stock was acquired at an average cost of $45.67 per share, for a total transaction of $15,984.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Fastenal Company (NASDAQ:FAST) traded down 3.36% during mid-day trading on Tuesday, hitting $44.26. The stock had a trading volume of 6,794,724 shares. Fastenal Company has a 52-week low of $37.70 and a 52-week high of $52.74. The stock has a 50 day moving average price of $50.47 and a 200-day moving average price of $47.14. The company has a market cap of $12.80 billion, a PE ratio of 25.29 and a beta of 1.02.
Fastenal Company (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, April 12th. The company reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The firm earned $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Fastenal Company had a return on equity of 26.52% and a net margin of 12.61%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. On average, equities analysts expect that Fastenal Company will post $1.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Wednesday, April 26th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.89%. The ex-dividend date is Monday, April 24th. Fastenal Company’s dividend payout ratio is presently 73.99%.
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Several brokerages have commented on FAST. Zacks Investment Research lowered Fastenal Company from a “buy” rating to a “hold” rating in a report on Tuesday. Argus raised Fastenal Company from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and issued a $50.00 price target on shares of Fastenal Company in a research note on Wednesday, April 12th. Stifel Nicolaus lifted their price target on Fastenal Company from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, January 19th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $49.00 price target on shares of Fastenal Company in a research note on Thursday, April 13th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Fastenal Company has an average rating of “Hold” and a consensus target price of $50.13.
A number of hedge funds have recently bought and sold shares of FAST. State Street Corp increased its stake in shares of Fastenal Company by 5.8% in the fourth quarter. State Street Corp now owns 11,993,495 shares of the company’s stock valued at $563,456,000 after buying an additional 657,549 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Fastenal Company by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,471,644 shares of the company’s stock valued at $312,165,000 after buying an additional 122,079 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Fastenal Company by 4.2% in the third quarter. BlackRock Fund Advisors now owns 4,920,453 shares of the company’s stock valued at $205,577,000 after buying an additional 198,533 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Fastenal Company by 8.1% in the third quarter. Bahl & Gaynor Inc. now owns 3,078,505 shares of the company’s stock valued at $128,619,000 after buying an additional 231,798 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Fastenal Company by 34.6% in the third quarter. Morgan Stanley now owns 2,651,197 shares of the company’s stock valued at $110,766,000 after buying an additional 681,020 shares during the last quarter. 78.11% of the stock is owned by hedge funds and other institutional investors.
Fastenal Company Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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