Fastenal (NASDAQ:FAST) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Fastenal shares rose above their 200-day moving average, reaching $50.27 and closing near $50.22, signaling improved technical momentum.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $49.50; targets range from $46 to $55.
• Fastenal matched quarterly EPS expectations at $0.33 while revenue exceeded estimates and grew 14.7% year over year. The company also increased its quarterly dividend to $0.26, although directors recently sold shares.

Fastenal Company (NASDAQ:FAST - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $47.08 and traded as high as $50.27. Fastenal shares last traded at $50.22, with a volume of 6,198,875 shares.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FAST. Barclays reduced their price target on shares of Fastenal from $47.00 to $46.00 and set an "equal weight" rating for the company in a research report on Thursday, July 16th. Sanford C. Bernstein reaffirmed an "underperform" rating on shares of Fastenal in a research note on Wednesday, July 15th. Morgan Stanley raised their price objective on Fastenal from $48.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. DA Davidson reaffirmed a "neutral" rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, July 15th. Finally, Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the stock a "buy" rating in a research report on Monday, July 13th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $49.50.

Fastenal Stock Up 1.4%

The company has a market cap of $57.63 billion, a PE ratio of 42.56, a P/E/G ratio of 3.09 and a beta of 0.69. The firm has a 50-day simple moving average of $49.86 and a two-hundred day simple moving average of $47.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The business's revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 earnings per share. Research analysts anticipate that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th were issued a $0.26 dividend. This is a positive change from Fastenal's previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Fastenal's payout ratio is currently 88.14%.

Insider Activity

In other news, Director Michael J. Ancius sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the transaction, the director owned 58,690 shares of the company's stock, valued at $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rita Heise sold 34,964 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the transaction, the director directly owned 20,000 shares in the company, valued at $1,001,000. The trade was a 63.61% decrease in their position. The SEC filing for this sale provides additional information. 0.28% of the stock is owned by company insiders.

Institutional Trading of Fastenal

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Fastenal during the 2nd quarter worth $26,000. Evergreen Advisors LLC acquired a new stake in shares of Fastenal during the first quarter worth $26,000. Palladiem LLC purchased a new stake in shares of Fastenal in the fourth quarter valued at $25,000. MV Capital Management Inc. purchased a new stake in shares of Fastenal in the fourth quarter valued at $29,000. Finally, Raleigh Capital Management Inc. increased its stake in Fastenal by 69.6% in the first quarter. Raleigh Capital Management Inc. now owns 748 shares of the company's stock valued at $35,000 after purchasing an additional 307 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

About Fastenal

Fastenal Company is a distributor of industrial and construction supplies serving businesses, contractors, manufacturers and other organizations. Its product offerings include fasteners such as bolts, nuts and screws, as well as safety equipment, tools, cutting tools, material-handling products, electrical and plumbing supplies, and maintenance and repair items.

The company sells products through a network of branch locations, onsite customer facilities, industrial vending machines and digital platforms.

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