Several other brokerages also recently weighed in on FAST. Goldman Sachs began coverage on shares of Fastenal in a research note on Sunday, March 18th. They issued a sell rating and a $49.00 target price on the stock. Robert W. Baird reissued a buy rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, March 6th. Zacks Investment Research downgraded shares of Fastenal from a buy rating to a hold rating in a research note on Tuesday, March 20th. Credit Suisse Group reissued an outperform rating and issued a $61.00 target price (up previously from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. Finally, BMO Capital Markets reissued a hold rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $54.07.
Shares of FAST opened at $50.67 on Friday. Fastenal has a twelve month low of $39.79 and a twelve month high of $58.74. The firm has a market capitalization of $14,407.37, a PE ratio of 26.25, a PEG ratio of 1.43 and a beta of 0.99. The company has a current ratio of 5.11, a quick ratio of 2.30 and a debt-to-equity ratio of 0.18.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 23rd. Investors of record on Wednesday, April 25th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, April 24th. Fastenal’s dividend payout ratio is presently 76.68%.
In related news, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the transaction, the insider now owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William Joseph Drazkowski sold 7,500 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total transaction of $424,800.00. Following the transaction, the insider now owns 9,460 shares in the company, valued at $535,814.40. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Chemical Bank grew its holdings in Fastenal by 44.2% during the 4th quarter. Chemical Bank now owns 9,410 shares of the company’s stock worth $515,000 after acquiring an additional 2,885 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in Fastenal by 5.9% during the 4th quarter. Xact Kapitalforvaltning AB now owns 53,046 shares of the company’s stock worth $2,901,000 after acquiring an additional 2,946 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Fastenal by 16.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 164,404 shares of the company’s stock worth $8,991,000 after acquiring an additional 23,417 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Fastenal by 60.3% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 14,361 shares of the company’s stock worth $785,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in Fastenal during the 4th quarter worth about $370,000. Institutional investors own 85.19% of the company’s stock.
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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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