Fastenal Company (NASDAQ:FAST) insider William Joseph Drazkowski purchased 1,000 shares of Fastenal stock in a transaction dated Friday, July 21st. The stock was bought at an average cost of $42.36 per share, with a total value of $42,360.00. Following the completion of the transaction, the insider now owns 1,960 shares in the company, valued at approximately $83,025.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Fastenal Company (FAST) traded down 2.24% during trading on Friday, hitting $40.68. The company’s stock had a trading volume of 3,385,360 shares. The company has a 50-day moving average price of $43.10 and a 200-day moving average price of $46.24. The stock has a market cap of $11.71 billion, a PE ratio of 22.39 and a beta of 0.98. Fastenal Company has a one year low of $37.70 and a one year high of $52.74.
Fastenal (NASDAQ:FAST) last issued its earnings results on Wednesday, July 12th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Fastenal had a net margin of 12.71% and a return on equity of 26.86%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. Equities analysts predict that Fastenal Company will post $1.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, July 26th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Monday, July 24th. Fastenal’s dividend payout ratio (DPR) is currently 70.33%.
Fastenal announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 11th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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A number of research analysts have recently weighed in on the company. Credit Suisse Group set a $52.00 price objective on Fastenal and gave the company a “buy” rating in a report on Thursday, May 4th. BidaskClub raised Fastenal from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Tuesday, June 13th. Northcoast Research reissued a “buy” rating on shares of Fastenal in a report on Friday, August 4th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Fastenal in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $50.14.
Large investors have recently modified their holdings of the stock. Curbstone Financial Management Corp raised its stake in shares of Fastenal by 2.9% in the first quarter. Curbstone Financial Management Corp now owns 5,593 shares of the company’s stock worth $288,000 after buying an additional 160 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Fastenal by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 251,864 shares of the company’s stock worth $12,971,000 after buying an additional 7,250 shares during the period. Deane Retirement Strategies Inc. bought a new stake in shares of Fastenal during the first quarter worth about $1,724,000. Liberty Capital Management Inc. raised its stake in shares of Fastenal by 6.9% in the first quarter. Liberty Capital Management Inc. now owns 38,575 shares of the company’s stock worth $1,987,000 after buying an additional 2,490 shares during the period. Finally, Integrated Investment Consultants LLC raised its stake in shares of Fastenal by 6.1% in the first quarter. Integrated Investment Consultants LLC now owns 9,459 shares of the company’s stock worth $487,000 after buying an additional 542 shares during the period. 81.68% of the stock is owned by institutional investors.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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