Fastenal (NASDAQ:FAST) Reaches New 1-Year High - Time to Buy?

Fastenal Company (NASDAQ:FAST - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $43.13 and last traded at $42.87, with a volume of 2146765 shares changing hands. The stock had previously closed at $42.00.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FAST shares. Wolfe Research upgraded Fastenal from an "underperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Morgan Stanley increased their target price on shares of Fastenal from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. William Blair upgraded shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upped their price target on shares of Fastenal from $36.00 to $38.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Finally, Stephens raised their price objective on shares of Fastenal from $37.50 to $40.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $40.40.

Fastenal Stock Down 0.6%

The business has a fifty day moving average price of $41.09 and a two-hundred day moving average price of $38.88. The company has a current ratio of 4.28, a quick ratio of 2.14 and a debt-to-equity ratio of 0.03. The company has a market cap of $48.89 billion, a price-to-earnings ratio of 42.45, a P/E/G ratio of 3.90 and a beta of 0.96.

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

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, April 25th were issued a $0.44 dividend. The ex-dividend date was Friday, April 25th. 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 4.13%. Fastenal's dividend payout ratio is currently 88.00%.

Insider Activity at Fastenal

In related news, EVP William Joseph Drazkowski sold 30,000 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $40.66, for a total transaction of $1,219,650.00. Following the completion of the sale, the executive vice president directly owned 11,994 shares of the company's stock, valued at approximately $487,616.07. This represents a 71.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 100,000 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $41.06, for a total transaction of $4,106,000.00. Following the transaction, the chief executive officer directly owned 565,036 shares of the company's stock, 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. Over the last quarter, insiders sold 193,200 shares of company stock valued at $7,895,625. Insiders own 0.37% of the company's stock.

Institutional Trading of Fastenal

Several hedge funds have recently added to or reduced their stakes in the business. 1248 Management LLC acquired a new stake in shares of Fastenal in the first quarter worth $36,000. Horizon Financial Services LLC grew 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 purchasing an additional 533 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Fastenal by 481.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company's stock worth $44,000 after purchasing an additional 506 shares during the period. OFI Invest Asset Management acquired a new position in shares of Fastenal during the fourth quarter valued at about $46,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Fastenal in the fourth quarter valued at about $49,000. Institutional investors own 81.38% 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, 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.