BidaskClub upgraded shares of Fastenal (NASDAQ:FAST) from a sell rating to a hold rating in a research report released on Friday, BidAskClub reports.

FAST has been the subject of a number of other reports. ValuEngine downgraded shares of Fastenal from a sell rating to a strong sell rating in a research report on Thursday, May 23rd. Morgan Stanley reduced their price target on shares of Fastenal from $31.50 to $29.00 and set an equal weight rating for the company in a research report on Friday, July 12th. William Blair downgraded shares of Fastenal from an outperform rating to a market perform rating in a research report on Tuesday, May 7th. Buckingham Research reduced their price target on shares of Fastenal from $31.00 to $29.00 and set a neutral rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Co reduced their price target on shares of Fastenal from $35.00 to $30.00 and set a market perform rating for the company in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Fastenal currently has a consensus rating of Hold and a consensus price target of $31.36.

Shares of FAST opened at $30.66 on Friday. Fastenal has a twelve month low of $24.00 and a twelve month high of $35.94. The stock’s 50 day moving average is $30.70 and its two-hundred day moving average is $49.83. The firm has a market capitalization of $17.58 billion, a PE ratio of 23.23, a P/E/G ratio of 1.33 and a beta of 1.22. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm posted $0.37 EPS. Fastenal’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Fastenal will post 1.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.87%. Fastenal’s payout ratio is 66.67%.

In related news, Director Daniel L. Johnson purchased 2,500 shares of Fastenal stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $30.49 per share, for a total transaction of $76,225.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Ancius acquired 1,104 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average price of $30.13 per share, with a total value of $33,263.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 4,604 shares of company stock valued at $138,479. Insiders own 0.62% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Investors Research Corp acquired a new position in shares of Fastenal during the 1st quarter worth approximately $26,000. Strategy Asset Managers LLC acquired a new position in shares of Fastenal during the 1st quarter worth approximately $32,000. Trustcore Financial Services LLC acquired a new position in shares of Fastenal during the 1st quarter worth approximately $43,000. Bremer Bank National Association acquired a new position in shares of Fastenal during the 1st quarter worth approximately $53,000. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Fastenal by 94.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock worth $25,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.

Further Reading: Balanced Fund

Analyst Recommendations for Fastenal (NASDAQ:FAST)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.