Fastenal Company (NASDAQ:FAST) Given Average Recommendation of "Hold" by Analysts

Shares of Fastenal Company (NASDAQ:FAST - Get Free Report) have received an average recommendation of "Hold" from the twelve brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $48.45.

Several analysts have recently issued reports on FAST shares. Stephens reiterated an "equal weight" rating on shares of Fastenal in a research note on Thursday, July 3rd. JPMorgan Chase & Co. increased their price target on shares of Fastenal from $36.00 to $38.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Stifel Nicolaus set a $82.00 price objective on shares of Fastenal in a report on Thursday, July 3rd. Morgan Stanley set a $40.00 price target on shares of Fastenal and gave the stock an "equal weight" rating in a report on Thursday, July 3rd. Finally, Loop Capital increased their price target on shares of Fastenal from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday.

Fastenal Stock Up 0.9%

Fastenal stock opened at $42.84 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 4.28 and a debt-to-equity ratio of 0.03. Fastenal has a 12-month low of $31.02 and a 12-month high of $43.27. The firm's fifty day moving average is $41.33 and its 200 day moving average is $39.05. The company has a market capitalization of $49.15 billion, a PE ratio of 42.63, a PEG ratio of 3.93 and a beta of 0.96.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The company reported $0.26 EPS for the quarter, meeting analysts' consensus estimates of $0.26. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. Fastenal had a net margin of 15.13% and a return on equity of 31.99%. Fastenal's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. As a group, sell-side analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, April 25th were given a dividend of $0.44 per share. This is a boost from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Friday, April 25th. Fastenal's dividend payout ratio (DPR) is presently 88.00%.

Insider Transactions at Fastenal

In other news, EVP John Lewis Soderberg sold 32,724 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $41.23, for a total value of $1,349,046.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Satterlee sold 19,340 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $39.76, for a total transaction of $768,861.70. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at $1,987,750. This represents a 27.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,200 shares of company stock valued at $7,895,625. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Fastenal

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Garde Capital Inc. lifted its position in Fastenal by 4,900.0% during the second quarter. Garde Capital Inc. now owns 750 shares of the company's stock valued at $32,000 after buying an additional 735 shares during the period. 1248 Management LLC purchased a new position in Fastenal in the 1st quarter worth about $36,000. Horizon Financial Services LLC raised its position in Fastenal by 5,330.0% in the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company's stock worth $42,000 after buying an additional 533 shares during the last quarter. Itau Unibanco Holding S.A. raised its position in Fastenal by 481.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company's stock worth $44,000 after buying an additional 506 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Fastenal in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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