Insider Selling: Fastenal (NASDAQ:FAST) EVP Sells 5,568 Shares of Stock

Fastenal (NASDAQ:FAST - Get Free Report) EVP Anthony Paul Broersma sold 5,568 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $81.19, for a total transaction of $452,065.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fastenal Stock Performance

Shares of NASDAQ:FAST traded down $0.76 on Monday, reaching $79.97. 2,031,447 shares of the company's stock were exchanged, compared to its average volume of 3,090,693. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The business's 50-day moving average is $76.93 and its two-hundred day moving average is $77.09. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $45.87 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 3.58 and a beta of 1.05.

Shares of Fastenal are going to split on the morning of Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, May 21st.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, equities research analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 25th. This is an increase from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a yield of 2.20%. Fastenal's dividend payout ratio (DPR) is currently 87.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FAST. Horizon Financial Services LLC boosted its position in shares of Fastenal by 5,330.0% during the first 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 period. Itau Unibanco Holding S.A. raised its stake in Fastenal by 481.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company's stock valued at $44,000 after acquiring an additional 506 shares in the last quarter. OFI Invest Asset Management acquired a new position in Fastenal during the 4th quarter worth $46,000. Whipplewood Advisors LLC bought a new position in shares of Fastenal in the fourth quarter worth $49,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Fastenal during the fourth quarter valued at $49,000. Institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, April 14th. Wolfe Research raised shares of Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. Stephens lifted their target price on Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 15th. Finally, Stifel Nicolaus reduced their price target on Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Fastenal has an average rating of "Hold" and a consensus target price of $79.10.

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.

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