Fastenal (NASDAQ:FAST) Director Purchases $49,580.00 in Stock

Fastenal Company (NASDAQ:FAST) Director Hsenghung Sam Hsu acquired 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at $495,800. The trade was a 11.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hsenghung Sam Hsu also recently made the following trade(s):

• On Thursday, October 16th, Hsenghung Sam Hsu purchased 1,000 shares of Fastenal stock. The stock was purchased at an average price of $42.45 per share, with a total value of $42,450.00.

Fastenal Trading Down 0.7%

NASDAQ:FAST traded down $0.30 during midday trading on Friday, hitting $40.45. The stock had a trading volume of 6,339,112 shares, compared to its average volume of 6,555,445. The stock has a 50-day moving average of $44.89 and a 200 day moving average of $44.37. The company has a market capitalization of $46.44 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 3.75 and a beta of 0.92. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share. Fastenal’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio is 82.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FAST shares. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price objective for the company in a report on Thursday. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Robert W. Baird dropped their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Sanford C. Bernstein initiated coverage on Fastenal in a research report on Tuesday. They issued an “underperform” rating and a $38.00 price objective for the company. Finally, Northcoast Research initiated coverage on Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus price target of $46.32.

Hedge Funds Weigh In On Fastenal

Hedge funds have recently made changes to their positions in the stock. Welch & Forbes LLC raised its holdings in Fastenal by 0.4% in the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock valued at $2,559,000 after acquiring an additional 135 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after purchasing an additional 147 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Fastenal by 3.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 5,057 shares of the company’s stock valued at $392,000 after purchasing an additional 154 shares in the last quarter. Advisory Alpha LLC lifted its position in shares of Fastenal by 5.8% during the 1st quarter. Advisory Alpha LLC now owns 3,407 shares of the company’s stock worth $264,000 after purchasing an additional 187 shares during the last quarter. Finally, Integrated Investment Consultants LLC grew its stake in shares of Fastenal by 3.5% during the first quarter. Integrated Investment Consultants LLC now owns 5,666 shares of the company’s stock worth $439,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

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.