Fastenal (FAST) Trading Down 51.2%

Fastenal (NASDAQ:FAST)’s share price was down 51.2% during trading on Thursday . The company traded as low as $31.02 and last traded at $31.34. Approximately 4,455,125 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 4,762,166 shares. The stock had previously closed at $64.28.

FAST has been the subject of a number of recent research reports. BidaskClub lowered Fastenal from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 20th. Buckingham Research increased their target price on Fastenal from $28.50 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Raymond James set a $39.00 target price on Fastenal and gave the company a “buy” rating in a research note on Friday, April 12th. Northcoast Research lowered Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their target price on Fastenal from $27.50 to $31.50 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.85.

The company has a quick ratio of 1.97, a current ratio of 4.31 and a debt-to-equity ratio of 0.20. The company has a market cap of $17.67 billion, a PE ratio of 11.73, a PEG ratio of 1.43 and a beta of 1.20.



Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm earned $0.31 earnings per share. Research analysts expect that Fastenal will post 2.84 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, April 24th were paid a dividend of $0.43 per share. The ex-dividend date was Tuesday, April 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 5.57%. Fastenal’s dividend payout ratio (DPR) is presently 65.40%.

In other Fastenal news, insider Terry Modock Owen sold 1,875 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $70.62, for a total transaction of $132,412.50. Following the completion of the sale, the insider now owns 5,375 shares in the company, valued at approximately $379,582.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Leland J. Hein sold 19,929 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $70.37, for a total value of $1,402,403.73. Following the sale, the insider now owns 14,931 shares of the company’s stock, valued at approximately $1,050,694.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,970 shares of company stock valued at $12,905,432. 0.56% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FAST. Berman Capital Advisors LLC acquired a new stake in Fastenal during the 4th quarter valued at approximately $26,000. Investors Research Corp acquired a new position in shares of Fastenal in the 1st quarter worth approximately $26,000. AdvisorNet Financial Inc grew its position in shares of Fastenal by 46.9% in the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after acquiring an additional 180 shares in the last quarter. Avestar Capital LLC grew its position in shares of Fastenal by 3,163.2% in the 4th quarter. Avestar Capital LLC now owns 620 shares of the company’s stock worth $30,000 after acquiring an additional 601 shares in the last quarter. Finally, Strategy Asset Managers LLC acquired a new position in shares of Fastenal in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 84.94% of the company’s stock.

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About Fastenal (NASDAQ:FAST)

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.

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