Fastenal (NASDAQ:FAST) VP Sells $1,970,441.60 in Stock

Fastenal (NASDAQ:FAST - Get Free Report) VP Charles S. Miller sold 23,480 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Fastenal Stock Performance

Shares of Fastenal stock traded down $0.31 during trading hours on Friday, reaching $81.85. 2,595,548 shares of the stock traded hands, compared to its average volume of 3,316,257. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 40.86, a P/E/G ratio of 4.90 and a beta of 0.99. Fastenal has a one year low of $59.47 and a one year high of $84.88. The company has a 50 day moving average price of $74.64 and a 200 day moving average price of $69.13.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.90 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The business's quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts expect that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 1.91%. Fastenal's payout ratio is currently 77.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FAST shares. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Stephens raised their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. Morgan Stanley increased their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. Robert W. Baird increased their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Finally, UBS Group assumed coverage on Fastenal in a research note on Wednesday. They set a "neutral" rating and a $88.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $74.80.

Hedge Funds Weigh In On Fastenal

A number of large investors have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company's stock valued at $1,999,009,000 after purchasing an additional 1,346,863 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company's stock worth $1,419,690,000 after buying an additional 608,596 shares during the period. Legal & General Group Plc lifted its stake in Fastenal by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 5,909,206 shares of the company's stock worth $371,334,000 after acquiring an additional 193,734 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Fastenal by 5.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company's stock valued at $336,974,000 after acquiring an additional 226,126 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Fastenal by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,665,482 shares of the company's stock valued at $293,179,000 after acquiring an additional 66,130 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

About Fastenal

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.