Shares of Fastenal (NASDAQ:FAST) have been assigned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $31.00.
A number of brokerages have recently weighed in on FAST. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Wells Fargo & Co dropped their price target on Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday. Raymond James restated a “hold” rating and issued a $19.50 price target on shares of in a research report on Friday. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Finally, BidaskClub upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th.
Fastenal stock traded up $0.59 during midday trading on Tuesday, reaching $30.95. The company’s stock had a trading volume of 8,463,655 shares, compared to its average volume of 4,593,754. Fastenal has a fifty-two week low of $24.00 and a fifty-two week high of $35.94. The company has a quick ratio of 1.97, a current ratio of 4.68 and a debt-to-equity ratio of 0.25. The company’s 50 day simple moving average is $31.78. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.37 and a beta of 1.25.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, July 24th. Fastenal’s dividend payout ratio is currently 65.15%.
In related news, insider Nicholas J. Lundquist sold 37,500 shares of Fastenal stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $70.48, for a total transaction of $2,643,000.00. Following the completion of the sale, the insider now owns 253,500 shares in the company, valued at approximately $17,866,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of Fastenal stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $71.38, for a total value of $713,800.00. Following the sale, the chief accounting officer now owns 10,300 shares of the company’s stock, valued at approximately $735,214. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,470 shares of company stock valued at $11,485,007. 0.56% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Berman Capital Advisors LLC purchased a new stake in Fastenal during the 4th quarter worth about $26,000. Investors Research Corp purchased a new stake in Fastenal in the 1st quarter valued at about $26,000. Strategy Asset Managers LLC purchased a new stake in Fastenal in the 1st quarter valued at about $32,000. Murphy Pohlad Asset Management LLC purchased a new stake in Fastenal in the 4th quarter valued at about $39,000. Finally, Trustcore Financial Services LLC purchased a new stake in Fastenal in the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.
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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