Fastenal Company (FAST) Given Consensus Recommendation of “Hold” by Analysts

Fastenal Company (NASDAQ:FAST) has earned a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm. Eight analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $49.95.

FAST has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Fastenal Company from a “hold” rating to a “sell” rating in a research report on Monday, January 9th. Credit Suisse Group AG increased their target price on shares of Fastenal Company from $41.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, January 19th. Stifel Nicolaus increased their target price on shares of Fastenal Company from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, January 19th. KeyCorp raised shares of Fastenal Company from a “sector weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research report on Thursday, January 5th. Finally, Avondale Partners raised shares of Fastenal Company from a “market perform” rating to an “outperform” rating and increased their target price for the company from $51.00 to $54.00 in a research report on Thursday, January 12th.

In other Fastenal Company news, Director Willard D. Oberton sold 10,000 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $50.19, for a total value of $501,900.00. Following the completion of the transaction, the director now owns 378,454 shares of the company’s stock, valued at $18,994,606.26. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.78% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FAST. Capstone Asset Management Co. boosted its position in shares of Fastenal Company by 11.9% in the third quarter. Capstone Asset Management Co. now owns 56,221 shares of the company’s stock valued at $2,349,000 after buying an additional 5,980 shares during the period. MSI Financial Services Inc boosted its position in shares of Fastenal Company by 34.7% in the third quarter. MSI Financial Services Inc now owns 5,820 shares of the company’s stock valued at $243,000 after buying an additional 1,500 shares during the period. National Pension Service boosted its position in shares of Fastenal Company by 9.3% in the third quarter. National Pension Service now owns 216,335 shares of the company’s stock valued at $9,038,000 after buying an additional 18,476 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Fastenal Company by 11.2% in the third quarter. DAVENPORT & Co LLC now owns 31,700 shares of the company’s stock valued at $1,324,000 after buying an additional 3,200 shares during the period. Finally, Armstrong Henry H Associates Inc. boosted its position in shares of Fastenal Company by 2.5% in the third quarter. Armstrong Henry H Associates Inc. now owns 36,725 shares of the company’s stock valued at $1,534,000 after buying an additional 900 shares during the period. 78.11% of the stock is owned by hedge funds and other institutional investors.

Fastenal Company (NASDAQ:FAST) traded up 0.81% on Monday, reaching $45.82. The company had a trading volume of 1,417,068 shares. Fastenal Company has a one year low of $37.70 and a one year high of $52.74. The company’s 50 day moving average is $50.34 and its 200-day moving average is $47.13. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 26.18 and a beta of 1.02.

Fastenal Company (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, April 12th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. Fastenal Company had a net margin of 12.61% and a return on equity of 26.52%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Fastenal Company will post $1.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Wednesday, April 26th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, April 24th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.82%. Fastenal Company’s dividend payout ratio is currently 73.99%.

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About Fastenal Company

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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