Fastenal (NASDAQ:FAST) CEO Daniel L. Florness sold 7,500 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $38.20, for a total transaction of $286,500.00. Following the sale, the chief executive officer now directly owns 207,190 shares in the company, valued at approximately $7,914,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ FAST opened at $38.32 on Friday. The firm’s 50-day moving average price is $36.55 and its 200-day moving average price is $34.41. Fastenal has a 1-year low of $28.38 and a 1-year high of $38.56. The firm has a market capitalization of $22.00 billion, a P/E ratio of 27.77, a P/E/G ratio of 1.89 and a beta of 1.24. The company has a current ratio of 4.51, a quick ratio of 2.00 and a debt-to-equity ratio of 0.18.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Fastenal had a net margin of 14.83% and a return on equity of 31.16%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Fastenal will post 1.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.61%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is currently 72.46%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in Fastenal in the 4th quarter worth about $274,000. Captrust Financial Advisors grew its position in Fastenal by 364.0% in the 4th quarter. Captrust Financial Advisors now owns 18,492 shares of the company’s stock worth $688,000 after purchasing an additional 14,507 shares in the last quarter. Bluefin Trading LLC bought a new stake in Fastenal in the 4th quarter worth about $561,000. Cubist Systematic Strategies LLC bought a new stake in Fastenal in the 4th quarter worth about $150,000. Finally, Orion Portfolio Solutions LLC bought a new stake in Fastenal in the 4th quarter worth about $135,000. Hedge funds and other institutional investors own 84.39% of the company’s stock.

A number of analysts have commented on FAST shares. Morgan Stanley upped their price target on shares of Fastenal from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. BidaskClub raised shares of Fastenal from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Jefferies Financial Group started coverage on shares of Fastenal in a research report on Friday, November 22nd. They set a “buy” rating and a $377.00 price target on the stock. Edward Jones cut shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Buckingham Research upped their price target on shares of Fastenal from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $74.11.

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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