Fastenal (NASDAQ:FAST) Insider Sells $612,808.82 in Stock

Fastenal (NASDAQ:FAST) insider William Joseph Drazkowski sold 16,666 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $36.77, for a total transaction of $612,808.82. Following the transaction, the insider now owns 19,456 shares in the company, valued at approximately $715,397.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ FAST opened at $37.18 on Friday. Fastenal has a 1 year low of $24.00 and a 1 year high of $37.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.51 and a quick ratio of 2.06. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.69 and a beta of 1.24. The company has a fifty day moving average price of $33.20 and a 200-day moving average price of $40.08.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Fastenal had a net margin of 14.77% and a return on equity of 32.03%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Fastenal will post 1.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a $0.22 dividend. The ex-dividend date is Thursday, October 24th. This represents a $0.88 annualized dividend and a dividend yield of 2.37%. Fastenal’s payout ratio is 66.67%.

Several research firms have weighed in on FAST. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a report on Saturday, October 5th. Wolfe Research downgraded shares of Fastenal from a “market perform” rating to an “underperform” rating in a report on Monday, October 14th. Wells Fargo & Co lowered their price objective on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, July 12th. Argus upped their price objective on shares of Fastenal to $41.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, ValuEngine downgraded shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $34.55.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. grew its position in Fastenal by 4.1% during the third quarter. Raymond James Trust N.A. now owns 70,138 shares of the company’s stock valued at $2,291,000 after buying an additional 2,792 shares during the period. Jag Capital Management LLC grew its position in Fastenal by 6.3% during the third quarter. Jag Capital Management LLC now owns 21,989 shares of the company’s stock valued at $718,000 after buying an additional 1,310 shares during the period. AdvisorNet Financial Inc grew its position in Fastenal by 19.0% during the third quarter. AdvisorNet Financial Inc now owns 1,814 shares of the company’s stock valued at $59,000 after buying an additional 290 shares during the period. State of New Jersey Common Pension Fund D bought a new position in Fastenal during the third quarter valued at about $15,299,000. Finally, Albert D Mason Inc. boosted its position in Fastenal by 1.8% during the third quarter. Albert D Mason Inc. now owns 16,620 shares of the company’s stock worth $543,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 83.98% of the company’s stock.

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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Insider Buying and Selling by Quarter for Fastenal (NASDAQ:FAST)

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