Fastenal (NASDAQ:FAST) Director Daniel L. Johnson Buys 3,350 Shares

Fastenal (NASDAQ:FAST) Director Daniel L. Johnson bought 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fastenal Price Performance

FAST traded down $0.98 on Thursday, hitting $67.50. 3,583,476 shares of the company were exchanged, compared to its average volume of 4,068,358. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The business’s fifty day moving average is $73.70 and its 200 day moving average is $66.20. Fastenal has a fifty-two week low of $52.28 and a fifty-two week high of $79.04. The firm has a market capitalization of $38.63 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.31%. Fastenal’s payout ratio is currently 77.23%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Robert W. Baird cut their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Stifel Nicolaus increased their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Loop Capital cut their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday. Finally, HSBC increased their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $67.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAST. MCF Advisors LLC grew its position in shares of Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the last quarter. Quarry LP grew its position in shares of Fastenal by 62.3% in the fourth quarter. Quarry LP now owns 409 shares of the company’s stock valued at $26,000 after purchasing an additional 157 shares during the last quarter. Hartford Financial Management Inc. grew its position in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after purchasing an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastenal in the fourth quarter valued at approximately $35,000. Finally, O Dell Group LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at approximately $35,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Company Profile

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.