Fastenal (NASDAQ:FAST) Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction dated Monday, September 13th. The shares were acquired at an average price of $53.20 per share, for a total transaction of $53,200.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $159,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
NASDAQ FAST opened at $53.04 on Wednesday. The company has a fifty day simple moving average of $54.66 and a two-hundred day simple moving average of $52.26. The stock has a market cap of $30.48 billion, a P/E ratio of 35.13, a P/E/G ratio of 3.83 and a beta of 1.28. Fastenal has a 12-month low of $42.57 and a 12-month high of $56.39. The company has a current ratio of 4.16, a quick ratio of 2.12 and a debt-to-equity ratio of 0.13.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, July 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. Fastenal had a net margin of 15.24% and a return on equity of 30.76%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company posted $0.42 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts forecast that Fastenal will post 1.56 earnings per share for the current year.
Several institutional investors have recently modified their holdings of FAST. Macquarie Group Ltd. raised its holdings in shares of Fastenal by 2,209.3% during the second quarter. Macquarie Group Ltd. now owns 3,893,992 shares of the company’s stock worth $202,489,000 after purchasing an additional 3,725,370 shares during the last quarter. Amundi purchased a new position in shares of Fastenal during the second quarter worth $189,782,000. Select Equity Group L.P. purchased a new position in shares of Fastenal during the first quarter worth $143,831,000. Morgan Stanley raised its holdings in shares of Fastenal by 95.0% during the second quarter. Morgan Stanley now owns 5,677,838 shares of the company’s stock worth $295,246,000 after purchasing an additional 2,766,806 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Fastenal by 17.0% during the second quarter. Principal Financial Group Inc. now owns 9,676,441 shares of the company’s stock worth $503,175,000 after purchasing an additional 1,405,001 shares during the last quarter. 77.47% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of Fastenal from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, July 14th. Morgan Stanley downgraded shares of Fastenal from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $53.00 to $48.00 in a research note on Tuesday, June 15th. They noted that the move was a valuation call. Loop Capital assumed coverage on shares of Fastenal in a research note on Tuesday, August 3rd. They issued a “hold” rating and a $52.00 target price for the company. Finally, Stephens raised their target price on shares of Fastenal from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.00.
Fastenal Company Profile
Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.
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