Raymond James set a $39.00 price objective on Fastenal (NASDAQ:FAST) in a research report report published on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the stock.
A number of other research firms also recently commented on FAST. BidaskClub raised Fastenal from a buy rating to a strong-buy rating in a report on Tuesday, April 23rd. Zacks Investment Research downgraded Fastenal from a buy rating to a hold rating in a report on Wednesday, April 17th. Northcoast Research downgraded Fastenal from a buy rating to a neutral rating in a report on Monday, April 15th. They noted that the move was a valuation call. William Blair downgraded Fastenal from an outperform rating to a market perform rating in a report on Tuesday, May 7th. Finally, Buckingham Research set a $32.50 target price on Fastenal and gave the company a hold rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $30.85.
Shares of NASDAQ FAST opened at $32.35 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. Fastenal has a 1-year low of $23.68 and a 1-year high of $35.94. The firm has a market cap of $18.47 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.42 and a beta of 1.27.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 5.32%. The ex-dividend date was Tuesday, April 23rd. Fastenal’s dividend payout ratio (DPR) is presently 65.15%.
In other news, CAO Sheryl Ann Lisowski sold 9,166 shares of Fastenal stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $64.22, for a total transaction of $588,640.52. Following the completion of the transaction, the chief accounting officer now owns 9,466 shares of the company’s stock, valued at approximately $607,906.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel L. Florness sold 20,000 shares of Fastenal stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $70.75, for a total value of $1,415,000.00. Following the transaction, the chief executive officer now directly owns 109,845 shares of the company’s stock, valued at approximately $7,771,533.75. The disclosure for this sale can be found here. Insiders have sold a total of 163,470 shares of company stock valued at $11,485,007 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Securian Asset Management Inc increased its position in Fastenal by 0.5% during the 1st quarter. Securian Asset Management Inc now owns 29,785 shares of the company’s stock worth $1,915,000 after purchasing an additional 150 shares in the last quarter. Old North State Trust LLC increased its position in Fastenal by 20.6% during the 1st quarter. Old North State Trust LLC now owns 966 shares of the company’s stock worth $62,000 after purchasing an additional 165 shares in the last quarter. Park National Corp OH increased its position in Fastenal by 2.9% during the 1st quarter. Park National Corp OH now owns 5,850 shares of the company’s stock worth $376,000 after purchasing an additional 167 shares in the last quarter. AdvisorNet Financial Inc increased its position in Fastenal by 46.9% during the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after purchasing an additional 180 shares in the last quarter. Finally, Utah Retirement Systems increased its position in Fastenal by 0.4% during the 4th quarter. Utah Retirement Systems now owns 53,540 shares of the company’s stock worth $2,800,000 after purchasing an additional 200 shares in the last quarter. 85.36% of the stock is 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.
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