Fastenal (NASDAQ:FAST) Given Average Recommendation of "Hold" by Brokerages

Fastenal (NASDAQ:FAST - Get Free Report) has been assigned an average rating of "Hold" from the ten analysts that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $74.80.

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Stifel Nicolaus reaffirmed a "buy" rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. UBS Group began coverage on Fastenal in a report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price target for the company. Finally, Bank of America began coverage on Fastenal in a report on Monday, October 7th. They issued a "buy" rating and a $85.00 price objective on the stock.

Fastenal Stock Up 0.4 %

NASDAQ:FAST traded up $0.35 during trading hours on Tuesday, hitting $84.10. 2,006,682 shares of the company's stock traded hands, compared to its average volume of 3,286,106. The stock's fifty day moving average price is $76.80 and its two-hundred day moving average price is $69.99. The firm has a market cap of $48.18 billion, a P/E ratio of 41.84, a P/E/G ratio of 4.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. Fastenal has a twelve month low of $59.47 and a twelve month high of $84.88.

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

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal's dividend payout ratio is currently 77.61%.

Insider Activity at Fastenal

In other news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the sale, the director now owns 10,595 shares of the company's stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,289 shares of company stock worth $16,123,438. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Fastenal

Several large investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Fastenal in the third quarter valued at about $25,000. Knuff & Co LLC bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $27,000. Central Valley Advisors LLC bought a new stake in shares of Fastenal in the 2nd quarter worth approximately $28,000. Moisand Fitzgerald Tamayo LLC increased its position in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock valued at $34,000 after purchasing an additional 428 shares during the period. Finally, First Personal Financial Services bought a new stake in shares of Fastenal during the third quarter valued at approximately $36,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

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.