Fastenal Co. (NASDAQ:FAST) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
A number of other equities research analysts have also issued reports on the company. Vetr lowered Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 target price on the stock. in a research note on Tuesday, September 6th. Zacks Investment Research raised Fastenal from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Morgan Stanley initiated coverage on Fastenal in a research note on Thursday, July 7th. They issued an “equal weight” rating and a $46.00 target price on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.00 target price on shares of Fastenal in a research note on Wednesday, July 13th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $43.00 target price on shares of Fastenal in a research note on Friday, June 17th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.15.
Shares of Fastenal (NASDAQ:FAST) opened at 38.27 on Friday. Fastenal has a 52 week low of $35.10 and a 52 week high of $49.99. The firm has a market capitalization of $11.06 billion, a PE ratio of 21.87 and a beta of 0.99. The stock has a 50 day moving average price of $41.13 and a 200-day moving average price of $43.84.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. The firm earned $1.01 billion during the quarter. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. Fastenal’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. Equities analysts anticipate that Fastenal will post $1.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.14%. Fastenal’s payout ratio is 69.77%.
In other news, Director Michael J. Ancius acquired 700 shares of the company’s stock in a transaction dated Thursday, October 13th. The stock was acquired at an average cost of $38.82 per share, for a total transaction of $27,174.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FAST. Nicholas Investment Partners LP purchased a new stake in Fastenal during the first quarter worth approximately $2,870,000. Cleararc Capital Inc. increased its stake in Fastenal by 2.1% in the first quarter. Cleararc Capital Inc. now owns 7,241 shares of the company’s stock worth $355,000 after buying an additional 152 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Fastenal by 12.1% in the first quarter. Riverhead Capital Management LLC now owns 213,330 shares of the company’s stock worth $10,454,000 after buying an additional 23,105 shares during the last quarter. AXA increased its stake in Fastenal by 12.0% in the first quarter. AXA now owns 109,100 shares of the company’s stock worth $5,346,000 after buying an additional 11,700 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in Fastenal by 2.1% in the first quarter. Pictet Asset Management Ltd. now owns 149,030 shares of the company’s stock worth $6,750,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.
Fastenal Company Profile