Michael Ancius Sells 3,000 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal Company (NASDAQ:FAST) Director Michael Ancius sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the sale, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $46.66 on Friday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The stock’s 50 day moving average price is $46.23 and its 200 day moving average price is $45.55. The stock has a market cap of $53.54 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 2.99 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that Fastenal Company will post 1.25 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. This is a boost from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s dividend payout ratio is 88.14%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Elyxium Wealth LLC acquired a new stake in Fastenal during the 4th quarter worth about $25,000. Palladiem LLC purchased a new stake in shares of Fastenal in the fourth quarter worth approximately $25,000. Evergreen Advisors LLC acquired a new stake in shares of Fastenal during the first quarter worth approximately $26,000. MV Capital Management Inc. purchased a new position in Fastenal during the fourth quarter valued at approximately $29,000. Finally, Field & Main Bank purchased a new position in shares of Fastenal during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of recent analyst reports. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Wednesday, July 15th. Robert W. Baird decreased their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Morgan Stanley boosted their price objective on Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Finally, Barclays decreased their target price on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $48.83.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.