Daniel L. Florness, CEO of Fastenal (NASDAQ:FAST – Free Report) sold 45,744 shares of the company’s stock on Wednesday, August 21. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the CEO now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Fastenal price history

Fastenal stock opened at $67.51 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The company has a 50-day moving average of $66.07 and a 200-day moving average of $68.87. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04. The stock has a market cap of $38.65 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 3.65 and a beta of 1.01.

Fastenal (NASDAQ:FAST – Free Report) last announced its quarterly earnings results on Friday, July 12. The company reported earnings per share (EPS) of $0.51 for the quarter, meeting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.92 billion for the quarter, compared to analyst expectations of $1.91 billion. During the same period last year, the company reported earnings per share of $0.52. Fastenal’s revenue increased 1.8% compared to the same quarter last year. Equities analysts forecast that Fastenal will report earnings per share of $2.05 for the current year.

Fastenal announces dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will receive a dividend of $0.39 per share. The ex-dividend date is Friday, July 26th. This represents an annualized dividend of $1.56 and a yield of 2.31%. Fastenal’s dividend payout ratio is currently 77.61%.

Institutional investors comment on Fastenal

Several hedge funds have recently added to or reduced their holdings in FAST. Central Valley Advisors LLC acquired a new stake in shares of Fastenal in the 2nd quarter valued at $28,000. MCF Advisors LLC increased its stake 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 buying an additional 391 shares during the same period. Triad Wealth Partners LLC acquired a new stake in Fastenal in the second quarter valued at about $32,000. Crewe Advisors LLC increased its position in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the same period. Finally, OFI Invest Asset Management acquired a new position in Fastenal in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 81.38% of the company’s shares.

Wall Street analysts predict growth

Several research analysts have commented on the company. Jefferies Financial Group lowered their price target on Fastenal from $74.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, July 11. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 price target (down from $85.00) on Fastenal shares in a report on Monday, July 15. Stephens reiterated an “equal weight” rating and issued a $56.00 price target on Fastenal shares in a research note on Monday, July 15. Finally, Robert W. Baird lowered his price target on Fastenal shares from $71.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7. Six analysts have rated the stock with a “hold” rating and one has given the company’s stock a “buy” rating. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $66.67.

Check out our latest analysis on FAST

About Fastenal

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The Fastenal Company, together with its subsidiaries, is engaged 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 fastening products include threaded fasteners, bolts, nuts, screws, studs and related washers used in finished products and construction projects, as well as in the maintenance and repair of machinery.

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