Fastenal (NASDAQ:FAST) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Fastenal (NASDAQ:FAST) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $72.19 and traded as high as $72.80. Fastenal shares last traded at $71.92, with a volume of 4,004,342 shares.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group increased their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective on the stock. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Morgan Stanley increased their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus cut shares of Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $77.40.

Fastenal Price Performance

The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $79.40 and a 200-day simple moving average of $72.25. The firm has a market cap of $41.20 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 4.69 and a beta of 1.00.

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

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a dividend of $0.39 per share. The ex-dividend date was Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.17%. Fastenal’s dividend payout ratio is 77.61%.

Insider Activity at Fastenal

In related news, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. This trade represents a 72.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,289 shares of company stock valued at $12,639,438. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fastenal

Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in Fastenal by 3.8% during the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after buying an additional 165,423 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of Fastenal by 1.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 60,874 shares of the company’s stock worth $4,347,000 after purchasing an additional 845 shares during the period. Synovus Financial Corp boosted its stake in shares of Fastenal by 83.1% during the 3rd quarter. Synovus Financial Corp now owns 29,319 shares of the company’s stock worth $2,094,000 after purchasing an additional 13,307 shares during the period. Tidal Investments LLC grew its holdings in Fastenal by 5.1% during the 3rd quarter. Tidal Investments LLC now owns 33,243 shares of the company’s stock valued at $2,374,000 after purchasing an additional 1,599 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Fastenal in the 3rd quarter worth about $2,038,000. 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.