Buckingham Research set a $65.00 price target on Fastenal (NASDAQ:FAST) in a research report sent to investors on Friday, TipRanks reports. The firm currently has a hold rating on the stock.
A number of other equities analysts have also recently commented on FAST. Zacks Investment Research upgraded Fastenal from a hold rating to a buy rating and set a $61.00 target price for the company in a report on Friday, December 14th. Morgan Stanley started coverage on Fastenal in a research note on Tuesday, December 18th. They issued an equal weight rating and a $55.00 price objective for the company. Jefferies Financial Group started coverage on Fastenal in a research note on Monday, January 7th. They issued a hold rating and a $60.00 price objective for the company. Wolfe Research upgraded Fastenal from an underperform rating to a market perform rating in a research note on Tuesday, January 8th. Finally, ValuEngine upgraded Fastenal from a hold rating to a buy rating in a research note on Thursday, January 17th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $60.90.
Shares of Fastenal stock opened at $68.77 on Friday. Fastenal has a 12 month low of $47.37 and a 12 month high of $69.88. The stock has a market cap of $19.60 billion, a P/E ratio of 26.15, a PEG ratio of 1.50 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 2.37.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Tuesday, April 23rd. Fastenal’s payout ratio is presently 65.40%.
In other news, CAO Sheryl Ann Lisowski sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $62.50, for a total transaction of $625,000.00. Following the sale, the chief accounting officer now owns 10,300 shares of the company’s stock, valued at approximately $643,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Lewis Soderberg sold 7,500 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $63.00, for a total value of $472,500.00. Following the sale, the executive vice president now directly owns 7,500 shares in the company, valued at approximately $472,500. The disclosure for this sale can be found here. Insiders sold a total of 87,083 shares of company stock valued at $5,458,662 in the last quarter. Company insiders own 0.56% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Fastenal by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 32,459,382 shares of the company’s stock worth $1,883,293,000 after acquiring an additional 311,099 shares in the last quarter. Vanguard Group Inc increased its position in Fastenal by 1.0% during the third quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock worth $1,883,293,000 after buying an additional 311,099 shares during the period. BlackRock Inc. increased its position in Fastenal by 3.3% during the fourth quarter. BlackRock Inc. now owns 19,919,843 shares of the company’s stock worth $1,041,607,000 after buying an additional 633,546 shares during the period. Bank of New York Mellon Corp increased its position in Fastenal by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 15,859,900 shares of the company’s stock worth $829,314,000 after buying an additional 1,134,666 shares during the period. Finally, Geode Capital Management LLC increased its position in Fastenal by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock worth $217,478,000 after buying an additional 225,481 shares during the period. 86.58% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
See Also: Dividend
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.