Fastenal Co. (FAST) Shares Gap Up to $42.47
Fastenal Co. (NASDAQ:FAST)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $42.40, but opened at $42.47. Fastenal shares last traded at $43.51, with a volume of 1,214,401 shares trading hands.
Several equities analysts have issued reports on the stock. Robert W. Baird restated a “hold” rating on shares of Fastenal in a research note on Sunday, May 8th. Zacks Investment Research cut shares of Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. Credit Suisse Group AG increased their price objective on shares of Fastenal from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, April 14th. Vetr cut shares of Fastenal from a “strong-buy” rating to a “buy” rating and set a $49.34 price objective on the stock. in a research note on Monday, May 9th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $47.77.
The company has a market capitalization of $12.55 billion and a price-to-earnings ratio of 24.82. The stock’s 50 day moving average price is $43.19 and its 200 day moving average price is $44.89.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, July 12th. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.03. During the same quarter last year, the business earned $0.48 EPS. The firm earned $1.01 billion during the quarter. Fastenal’s revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fastenal Co. will post $1.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Tuesday, July 26th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, July 22nd.
Other large investors have recently added to or reduced their stakes in the company. Genesee Valley Trust Co. increased its stake in Fastenal by 3.4% in the fourth quarter. Genesee Valley Trust Co. now owns 27,064 shares of the company’s stock worth $1,105,000 after buying an additional 884 shares during the period. Advantus Capital Management Inc increased its stake in Fastenal by 2.3% in the fourth quarter. Advantus Capital Management Inc now owns 27,882 shares of the company’s stock worth $1,138,000 after buying an additional 629 shares during the period. Mutual of America Capital Management LLC increased its stake in Fastenal by 1.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 32,775 shares of the company’s stock worth $1,338,000 after buying an additional 348 shares during the period. Stephens Inc. AR increased its stake in Fastenal by 0.6% in the fourth quarter. Stephens Inc. AR now owns 37,083 shares of the company’s stock worth $1,514,000 after buying an additional 225 shares during the period. Finally, Atlantic Trust Group LLC increased its stake in Fastenal by 208.8% in the fourth quarter. Atlantic Trust Group LLC now owns 38,852 shares of the company’s stock worth $1,586,000 after buying an additional 26,272 shares during the period.
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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