Insider Selling: Fastenal (NASDAQ:FAST) VP Sells $564,625.60 in Stock

Fastenal (NASDAQ:FAST) VP Leland J. Hein sold 12,320 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $45.83, for a total transaction of $564,625.60. Following the sale, the vice president now directly owns 15,372 shares in the company, valued at $704,498.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NASDAQ:FAST opened at $46.55 on Thursday. The firm has a market cap of $26.66 billion, a P/E ratio of 32.10, a P/E/G ratio of 3.58 and a beta of 1.20. Fastenal has a 52 week low of $26.72 and a 52 week high of $46.83. The firm’s fifty day moving average is $43.09 and its 200-day moving average is $37.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.91 and a current ratio of 4.13.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, July 14th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Fastenal had a net margin of 15.07% and a return on equity of 31.19%. Fastenal’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, sell-side analysts anticipate that Fastenal will post 1.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Monday, July 27th. Fastenal’s dividend payout ratio is presently 72.46%.

FAST has been the topic of a number of research reports. JPMorgan Chase & Co. raised shares of Fastenal from an “underweight” rating to a “neutral” rating and set a $34.00 target price on the stock in a report on Tuesday, June 23rd. Morgan Stanley boosted their target price on shares of Fastenal from $36.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Jefferies Financial Group reissued a “hold” rating and set a $46.00 target price on shares of Fastenal in a report on Wednesday, July 15th. Robert W. Baird upped their price objective on shares of Fastenal from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Co upped their price objective on shares of Fastenal from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $41.90.

A number of hedge funds and other institutional investors have recently modified their holdings of FAST. Norges Bank bought a new position in Fastenal during the fourth quarter worth $217,422,000. Franklin Resources Inc. boosted its stake in Fastenal by 458.7% during the first quarter. Franklin Resources Inc. now owns 3,962,340 shares of the company’s stock worth $123,823,000 after acquiring an additional 3,253,078 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in Fastenal during the first quarter worth $86,950,000. BlackRock Inc. raised its holdings in Fastenal by 3.6% during the first quarter. BlackRock Inc. now owns 45,116,444 shares of the company’s stock worth $1,409,891,000 after buying an additional 1,577,504 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Fastenal by 64.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,878,250 shares of the company’s stock valued at $166,144,000 after buying an additional 1,526,965 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

About Fastenal

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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