Hsenghung Sam Hsu Purchases 1,000 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal Company (NASDAQ:FAST) Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was bought at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the purchase, the director owned 9,000 shares in the company, valued at approximately $382,050. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Fastenal Stock Up 1.2%

Fastenal stock opened at $42.46 on Friday. The company has a market capitalization of $48.73 billion, a P/E ratio of 39.68, a P/E/G ratio of 3.83 and a beta of 0.94. The firm’s fifty day simple moving average is $47.83 and its 200-day simple moving average is $44.00. The company has a current ratio of 4.26, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

Institutional Trading of Fastenal

Hedge funds have recently bought and sold shares of the stock. Riverview Trust Co boosted its holdings in Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Hilltop National Bank bought a new stake in Fastenal in the 2nd quarter valued at $27,000. Private Wealth Management Group LLC boosted its holdings in Fastenal by 111.9% in the 2nd 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 during the period. Twin Peaks Wealth Advisors LLC bought a new stake in Fastenal in the 2nd quarter valued at $27,000. Finally, Armstrong Advisory Group Inc. boosted its holdings in Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares during the period. 81.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Wolfe Research reiterated a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Finally, Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.50.

Fastenal Company Profile

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.