Scott Satterlee Sells 15,964 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal Company (NASDAQ:FAST) Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Fastenal Stock Performance

Fastenal stock traded up $0.02 during trading hours on Tuesday, hitting $43.75. The company had a trading volume of 2,524,107 shares, compared to its average volume of 9,625,072. The firm has a 50-day moving average of $41.55 and a 200 day moving average of $44.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. The firm has a market cap of $50.22 billion, a PE ratio of 39.77, a PEG ratio of 2.81 and a beta of 0.90. Fastenal Company has a one year low of $35.31 and a one year high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company posted $0.46 earnings per share. Fastenal’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is currently 87.27%.

Wall Street Analyst Weigh In

Several research firms recently commented on FAST. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Wolfe Research reduced their target price on Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price target on shares of Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average price target of $48.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FAST. Riverview Trust Co increased its position in shares of Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after buying an additional 292 shares during the period. SOA Wealth Advisors LLC. increased its stake in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 255 shares during the period. REAP Financial Group LLC bought a new position in shares of Fastenal during the third quarter valued at approximately $30,000. Private Wealth Management Group LLC lifted its stake in Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 339 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Fastenal in the second quarter valued at $27,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.