Fastenal (FAST) Rating Reiterated by KeyCorp
Other analysts have also recently issued reports about the stock. BMO Capital Markets restated a hold rating and issued a $57.00 price target on shares of Fastenal in a report on Tuesday, January 9th. Stifel Nicolaus raised their price target on shares of Fastenal from $54.00 to $55.00 and gave the company a hold rating in a report on Tuesday, April 3rd. BidaskClub cut shares of Fastenal from a strong-buy rating to a buy rating in a report on Friday. Zacks Investment Research cut shares of Fastenal from a buy rating to a hold rating in a report on Monday, April 2nd. Finally, Stephens restated a buy rating and issued a $60.00 price target on shares of Fastenal in a report on Wednesday, April 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $54.07.
Shares of Fastenal stock opened at $50.67 on Friday. The company has a current ratio of 5.11, a quick ratio of 2.30 and a debt-to-equity ratio of 0.18. Fastenal has a 1 year low of $39.79 and a 1 year high of $58.74. The stock has a market cap of $14,407.37, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 23rd. Investors of record on Wednesday, April 25th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Tuesday, April 24th. Fastenal’s payout ratio is currently 76.68%.
In related news, insider William Joseph Drazkowski sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $56.64, for a total value of $424,800.00. Following the completion of the transaction, the insider now directly owns 9,460 shares of the company’s stock, valued at approximately $535,814.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles S. Miller sold 26,250 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the transaction, the insider now directly owns 26,250 shares of the company’s stock, valued at $1,483,125. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC purchased a new position in shares of Fastenal in the 4th quarter valued at approximately $104,000. Exane Derivatives purchased a new position in Fastenal during the 4th quarter worth approximately $110,000. SeaCrest Wealth Management LLC purchased a new position in Fastenal during the 4th quarter worth approximately $115,000. Squar Milner Financial Services LLC purchased a new position in Fastenal during the 4th quarter worth approximately $202,000. Finally, AlphaStar Capital Management LLC purchased a new position in Fastenal during the 4th quarter worth approximately $201,000. 85.19% of the stock is owned by hedge funds and other institutional investors.
Fastenal Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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