Scott Satterlee Sells 15,964 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal Company (NASDAQ:FAST) Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fastenal Stock Up 0.0%

Shares of FAST traded up $0.02 during midday trading on Tuesday, reaching $43.75. 2,524,107 shares of the stock were exchanged, compared to its average volume of 9,625,072. The company has a market cap of $50.22 billion, a price-to-earnings ratio of 39.77, a P/E/G ratio of 2.81 and a beta of 0.90. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The firm has a 50 day simple moving average of $41.55 and a 200-day simple moving average of $44.46. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Research analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, January 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is presently 87.27%.

Institutional Trading of Fastenal

Several institutional investors and hedge funds have recently made changes to their positions in FAST. Riverview Trust Co grew its stake in shares of Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares in the last quarter. SOA Wealth Advisors LLC. raised its holdings in Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares in the last quarter. REAP Financial Group LLC acquired a new position in Fastenal during the third quarter valued at approximately $30,000. Private Wealth Management Group LLC grew its stake in Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal during the 2nd quarter worth approximately $27,000. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on FAST shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Wolfe Research decreased their price target on Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a research report on Wednesday, January 21st. Barclays set a $43.00 price objective on Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Finally, UBS Group reiterated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.00.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.