Shares of Fastenal Co. (NASDAQ:FAST) have earned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $45.91.
A number of analysts recently weighed in on FAST shares. Vetr downgraded Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 target price for the company. in a research report 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. BMO Capital Markets set a $45.00 price target on Fastenal and gave the stock a “hold” rating in a research note on Wednesday, October 12th. Argus cut Fastenal from a “buy” rating to a “hold” rating in a research note on Friday, October 14th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Fastenal in a research note on Thursday, October 13th.
In other news, Director Michael J. Ancius purchased 700 shares of Fastenal stock in a transaction that occurred on Thursday, October 13th. The shares were bought at an average cost of $38.82 per share, with a total value of $27,174.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC increased its stake in Fastenal by 173.5% in the third quarter. HighPoint Advisor Group LLC now owns 16,280 shares of the company’s stock valued at $732,000 after buying an additional 10,328 shares during the period. D.A. Davidson & CO. increased its stake in Fastenal by 4.9% in the third quarter. D.A. Davidson & CO. now owns 205,748 shares of the company’s stock valued at $8,593,000 after buying an additional 9,611 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Fastenal during the third quarter valued at approximately $151,000. Price T Rowe Associates Inc. MD increased its stake in Fastenal by 5.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 696,405 shares of the company’s stock valued at $29,096,000 after buying an additional 35,010 shares during the period. Finally, LPL Financial LLC increased its stake in Fastenal by 10.3% in the third quarter. LPL Financial LLC now owns 24,030 shares of the company’s stock valued at $996,000 after buying an additional 2,239 shares during the period. 76.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fastenal (NASDAQ:FAST) traded down 0.52% during trading on Monday, hitting $46.13. The company had a trading volume of 449,036 shares. The company’s 50 day moving average is $41.23 and its 200 day moving average is $42.89. Fastenal has a 1-year low of $35.10 and a 1-year high of $49.99. The firm has a market capitalization of $13.33 billion, a P/E ratio of 26.85 and a beta of 0.92.
Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. Analysts anticipate that Fastenal will post $1.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th were paid a $0.30 dividend. The ex-dividend date was Friday, October 21st. This represents a $1.20 annualized dividend and a yield of 2.60%. Fastenal’s payout ratio is 69.77%.