Fastenal (NASDAQ:FAST) CFO Holden Lewis acquired 500 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The stock was bought at an average cost of $52.28 per share, for a total transaction of $26,140.00. Following the completion of the purchase, the chief financial officer now directly owns 3,500 shares in the company, valued at approximately $182,980. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
NASDAQ FAST traded down $0.30 during trading on Wednesday, hitting $52.65. The company’s stock had a trading volume of 2,102,900 shares, compared to its average volume of 2,877,744. The company has a quick ratio of 2.57, a current ratio of 5.62 and a debt-to-equity ratio of 0.19. The company has a market cap of $16.65 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.62 and a beta of 0.92. Fastenal has a 52 week low of $45.96 and a 52 week high of $61.14.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Fastenal had a return on equity of 30.82% and a net margin of 14.57%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. Sell-side analysts expect that Fastenal will post 2.56 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on FAST. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Saturday, July 14th. BidaskClub downgraded Fastenal from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. BMO Capital Markets cut their price objective on Fastenal from $57.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, July 6th. Wells Fargo & Co raised their price objective on Fastenal from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, July 12th. Finally, ValuEngine raised Fastenal from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.11.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Fastenal by 1.4% in the 2nd quarter. BlackRock Inc. now owns 19,318,036 shares of the company’s stock worth $929,778,000 after buying an additional 268,614 shares during the period. OppenheimerFunds Inc. increased its position in Fastenal by 5.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 5,666,164 shares of the company’s stock worth $272,713,000 after buying an additional 282,020 shares during the period. Northern Trust Corp increased its position in Fastenal by 3.3% in the 2nd quarter. Northern Trust Corp now owns 3,437,593 shares of the company’s stock worth $165,451,000 after buying an additional 108,486 shares during the period. Cantillon Capital Management LLC bought a new position in Fastenal in the 2nd quarter worth approximately $154,074,000. Finally, Janus Henderson Group PLC increased its position in Fastenal by 17.4% in the 2nd quarter. Janus Henderson Group PLC now owns 2,520,269 shares of the company’s stock worth $121,301,000 after buying an additional 373,989 shares during the period. 85.85% of the stock is currently owned by institutional investors.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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