Fastenal Company (NASDAQ:FAST) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus rating of Hold on Fastenal from 13 firms (2 sell, 6 hold, 5 buy) with an average 12‑month price target of $49.77.
• Fastenal's latest quarter (reported Apr. 13) posted $0.30 EPS (in line with consensus) and revenue of $2.20 billion, up 12.4% year‑over‑year.
• Director Reyne K. Wisecup sold 36,920 shares (cutting her stake by ~48%), and the company declared a $0.24 quarterly dividend (annualized $0.96, ~2.1% yield) with a payout ratio of 84.21%.

Fastenal Company (NASDAQ:FAST - Get Free Report) has been given a consensus recommendation of "Hold" by the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $49.7692.

FAST has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on shares of Fastenal from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Benchmark reissued a "buy" rating on shares of Fastenal in a research note on Thursday, March 5th. Bank of America raised their target price on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Morgan Stanley reissued a "positive" rating and issued a $45.00 target price on shares of Fastenal in a research note on Thursday, March 5th. Finally, Sanford C. Bernstein reissued an "underperform" rating and issued a $42.00 target price on shares of Fastenal in a research note on Tuesday, April 14th.

Insider Buying and Selling at Fastenal

In related news, Director Reyne K. Wisecup sold 36,920 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the transaction, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company's stock.

Hedge Funds Weigh In On Fastenal

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock valued at $7,430,322,000 after purchasing an additional 2,346,045 shares during the last quarter. National Pension Service lifted its holdings in Fastenal by 3.6% during the 3rd quarter. National Pension Service now owns 1,558,579 shares of the company's stock valued at $76,433,000 after purchasing an additional 53,888 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Fastenal by 6.3% during the 3rd quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company's stock valued at $181,626,000 after purchasing an additional 219,154 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Fastenal by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock valued at $362,282,000 after purchasing an additional 90,095 shares during the last quarter. Finally, BlueStem Wealth Partners LLC acquired a new stake in Fastenal during the 3rd quarter valued at $634,000. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of FAST opened at $44.88 on Tuesday. The stock has a market capitalization of $51.52 billion, a P/E ratio of 39.37, a P/E/G ratio of 2.86 and a beta of 0.75. Fastenal has a twelve month low of $38.97 and a twelve month high of $50.63. The company has a 50 day moving average of $45.70 and a 200-day moving average of $43.57. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business's quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. As a group, equities research analysts forecast that Fastenal will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal's dividend payout ratio (DPR) is currently 84.21%.

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.

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