FAST has been the topic of a number of other reports. Stephens restated a buy rating and issued a $60.00 target price on shares of Fastenal in a report on Wednesday, April 11th. BMO Capital Markets restated a hold rating and issued a $57.00 target price on shares of Fastenal in a report on Monday, April 9th. Zacks Investment Research upgraded shares of Fastenal from a hold rating to a buy rating and set a $60.00 target price on the stock in a report on Tuesday, April 3rd. Stifel Nicolaus upped their target price on shares of Fastenal from $54.00 to $55.00 and gave the company a hold rating in a report on Tuesday, April 3rd. Finally, Goldman Sachs assumed coverage on shares of Fastenal in a report on Sunday, March 18th. They issued a sell rating and a $49.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Fastenal presently has a consensus rating of Buy and a consensus target price of $54.07.
Fastenal stock opened at $50.08 on Thursday. Fastenal has a 52 week low of $39.79 and a 52 week high of $58.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.40 and a current ratio of 5.11. The stock has a market capitalization of $14,588.61, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 23rd. Stockholders of record on Wednesday, April 25th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Tuesday, April 24th. Fastenal’s dividend payout ratio is currently 76.68%.
In related news, insider Charles S. Miller sold 26,250 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the sale, the insider now owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Joseph Drazkowski sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total transaction of $424,800.00. Following the sale, the insider now directly owns 9,460 shares of the company’s stock, valued at approximately $535,814.40. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FAST. Neuberger Berman Group LLC acquired a new stake in Fastenal in the third quarter valued at approximately $56,907,000. Element Capital Management LLC acquired a new stake in Fastenal in the fourth quarter valued at approximately $44,222,000. Elkfork Partners LLC acquired a new stake in Fastenal in the fourth quarter valued at approximately $43,602,000. OppenheimerFunds Inc. grew its position in Fastenal by 18.8% in the fourth quarter. OppenheimerFunds Inc. now owns 4,876,680 shares of the company’s stock valued at $266,706,000 after acquiring an additional 772,198 shares in the last quarter. Finally, Madison Investment Holdings Inc. grew its position in Fastenal by 65.2% in the fourth quarter. Madison Investment Holdings Inc. now owns 1,036,393 shares of the company’s stock valued at $56,680,000 after acquiring an additional 409,114 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.
Fastenal Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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