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

Fastenal Company (NASDAQ:FAST - Get Free Report) has been assigned a consensus rating of "Hold" from the eleven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $40.40.

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Fastenal from $36.00 to $38.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Morgan Stanley upped their target price on Fastenal from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Robert W. Baird boosted their price objective on Fastenal from $40.00 to $43.00 and gave the stock a "neutral" rating in a research report on Monday, April 14th. Stephens upped their price objective on Fastenal from $37.50 to $40.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 15th. Finally, William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th.

Insider Buying and Selling

In related news, EVP Anthony Paul Broersma sold 11,136 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $40.60, for a total value of $452,065.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel L. Florness sold 100,000 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $41.06, for a total value of $4,106,000.00. Following the sale, the chief executive officer now owns 565,036 shares in the company, valued at approximately $23,200,378.16. This represents a 15.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,200 shares of company stock valued at $7,895,625. 0.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Fastenal

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its holdings in Fastenal by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock worth $3,817,000 after acquiring an additional 130 shares during the period. Anchor Investment Management LLC grew its position in shares of Fastenal by 3.4% during the 4th quarter. Anchor Investment Management LLC now owns 4,134 shares of the company's stock valued at $297,000 after purchasing an additional 135 shares in the last quarter. Welch & Forbes LLC increased its holdings in shares of Fastenal by 0.4% in the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock worth $2,559,000 after purchasing an additional 135 shares during the period. Principal Securities Inc. raised its position in shares of Fastenal by 0.9% in the first quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock worth $1,142,000 after buying an additional 140 shares in the last quarter. Finally, Salvus Wealth Management LLC boosted its stake in Fastenal by 1.6% during the first quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company's stock valued at $698,000 after buying an additional 141 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Down 1.6%

Shares of NASDAQ:FAST traded down $0.69 during mid-day trading on Friday, hitting $41.55. 4,790,034 shares of the company traded hands, compared to its average volume of 6,016,859. The stock has a 50-day moving average price of $40.78 and a two-hundred day moving average price of $38.80. Fastenal has a 12-month low of $30.68 and a 12-month high of $43.10. The stock has a market cap of $47.67 billion, a P/E ratio of 41.34, a P/E/G ratio of 3.92 and a beta of 0.97. The company has a current ratio of 4.28, a quick ratio of 2.14 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.26. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. Fastenal had a net margin of 15.13% and a return on equity of 31.99%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS. On average, equities research analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, April 25th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Friday, April 25th. This is a boost from Fastenal's previous quarterly dividend of $0.43. Fastenal's dividend payout ratio is currently 88.00%.

Fastenal Company Profile

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.