Fastenal (NASDAQ:FAST) Director Rita J. Heise Sells 10,888 Shares of Stock

Fastenal (NASDAQ:FAST) Director Rita J. Heise sold 10,888 shares of Fastenal stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Fastenal Price Performance

FAST stock opened at $78.18 on Friday. The company has a market capitalization of $44.79 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 4.59 and a beta of 1.01. The company’s fifty day moving average price is $71.74 and its 200-day moving average price is $68.18. Fastenal has a one year low of $58.04 and a one year high of $79.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. On average, equities analysts anticipate that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.00%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stiles Financial Services Inc raised its holdings in Fastenal by 2.5% during the 3rd quarter. Stiles Financial Services Inc now owns 51,631 shares of the company’s stock valued at $3,687,000 after buying an additional 1,253 shares during the period. Montecito Bank & Trust grew its stake in shares of Fastenal by 103.6% during the third quarter. Montecito Bank & Trust now owns 10,360 shares of the company’s stock valued at $740,000 after buying an additional 5,272 shares during the last quarter. Cozad Asset Management Inc. purchased a new stake in shares of Fastenal in the third quarter worth approximately $202,000. WoodTrust Financial Corp lifted its stake in shares of Fastenal by 5.3% during the 3rd quarter. WoodTrust Financial Corp now owns 34,875 shares of the company’s stock worth $2,491,000 after acquiring an additional 1,750 shares during the last quarter. Finally, Harvest Portfolios Group Inc. boosted its holdings in Fastenal by 15.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 14,888 shares of the company’s stock valued at $1,063,000 after acquiring an additional 1,982 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus restated a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Robert W. Baird increased their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Bank of America began coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.33.

About Fastenal

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.