Several other research firms have also commented on FAST. Goldman Sachs began 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. Robert W. Baird restated a buy rating and issued a $57.00 price target on shares of Fastenal in a research note on Tuesday, March 6th. Zacks Investment Research downgraded shares of Fastenal from a buy rating to a hold rating in a research note on Tuesday, March 20th. Credit Suisse Group restated an outperform rating and issued a $61.00 price target (up from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. Finally, BMO Capital Markets restated a hold rating and issued a $57.00 price target on shares of Fastenal in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Fastenal currently has a consensus rating of Buy and an average price target of $54.07.
NASDAQ:FAST opened at $50.49 on Thursday. Fastenal has a 52 week low of $39.79 and a 52 week high of $58.74. The stock has a market cap of $14,525.41, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.30 and a current ratio of 5.11.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 23rd. Stockholders of record on Wednesday, April 25th will be given a $0.37 dividend. The ex-dividend date is Tuesday, April 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.93%. Fastenal’s dividend payout ratio (DPR) is currently 76.68%.
In other news, insider Charles S. Miller sold 26,250 shares of Fastenal stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the completion of the sale, the insider now owns 26,250 shares in the company, valued at approximately $1,483,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Joseph Drazkowski sold 7,500 shares of Fastenal stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $56.64, for a total transaction of $424,800.00. Following the completion of the sale, the insider now owns 9,460 shares of the company’s stock, valued at approximately $535,814.40. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC bought a new stake in Fastenal during the 4th quarter valued at $104,000. Exane Derivatives bought a new stake in Fastenal during the 4th quarter valued at $110,000. SeaCrest Wealth Management LLC bought a new stake in Fastenal during the 4th quarter valued at $115,000. Squar Milner Financial Services LLC purchased a new position in Fastenal during the 4th quarter worth $202,000. Finally, AlphaStar Capital Management LLC purchased a new position in Fastenal during the 4th quarter worth $201,000. Institutional investors and hedge funds own 85.25% of the company’s stock.
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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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