Fastenal (NASDAQ:FAST) Price Target Lowered to $29.00 at Buckingham Research
Fastenal (NASDAQ:FAST) had its price target lowered by Buckingham Research from $31.00 to $29.00 in a report published on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the stock.
Several other research analysts have also weighed in on the company. ValuEngine lowered Verso from a hold rating to a sell rating in a research report on Thursday, May 23rd. William Blair reaffirmed a market perform rating on shares of Luminex in a research report on Tuesday, May 7th. Wells Fargo & Co set a $29.00 target price on Establishment Labs and gave the stock a buy rating in a research report on Friday. Northcoast Research lowered Fastenal from a buy rating to a neutral rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Finally, BidaskClub raised Zebra Technologies from a hold rating to a buy rating in a research report on Saturday, July 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $31.31.
Shares of Fastenal stock opened at $30.68 on Friday. Fastenal has a fifty-two week low of $24.00 and a fifty-two week high of $35.94. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.38 and a beta of 1.25. The business’s fifty day simple moving average is $31.78. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, July 25th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, July 24th. Fastenal’s dividend payout ratio (DPR) is currently 65.15%.
In related news, CAO Sheryl Ann Lisowski sold 9,166 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $64.22, for a total value of $588,640.52. Following the completion of the sale, the chief accounting officer now directly owns 9,466 shares in the company, valued at approximately $607,906.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Terry Modock Owen sold 1,875 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $70.62, for a total value of $132,412.50. Following the completion of the sale, the insider now owns 5,375 shares of the company’s stock, valued at $379,582.50. The disclosure for this sale can be found here. Insiders sold a total of 163,470 shares of company stock worth $11,485,007 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in Fastenal by 31.1% in the 1st quarter. SG Americas Securities LLC now owns 5,675 shares of the company’s stock valued at $365,000 after purchasing an additional 1,345 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Fastenal by 8.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,551,486 shares of the company’s stock valued at $164,086,000 after purchasing an additional 190,333 shares in the last quarter. GAM Holding AG increased its holdings in Fastenal by 110.7% in the 1st quarter. GAM Holding AG now owns 18,242 shares of the company’s stock valued at $1,173,000 after purchasing an additional 9,583 shares in the last quarter. Meristem Family Wealth LLC acquired a new stake in Fastenal in the 1st quarter valued at $220,000. Finally, Green Square Capital LLC increased its holdings in Fastenal by 9.1% in the 4th quarter. Green Square Capital LLC now owns 131,767 shares of the company’s stock valued at $6,890,000 after purchasing an additional 10,940 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.
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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