Robert W. Baird reissued their neutral rating on shares of Fastenal Co. (NASDAQ:FAST) in a research report sent to investors on Thursday. The brokerage currently has a $45.00 price target on the stock.
FAST has been the subject of a number of other research reports. Zacks Investment Research upgraded Fastenal from a sell rating to a hold rating in a research report on Tuesday, September 13th. Morgan Stanley initiated coverage on Fastenal in a report on Thursday, July 7th. They issued an equal weight rating and a $46.00 price target for the company. Vetr cut Fastenal from a strong-buy rating to a hold rating and set a $42.46 price target for the company. in a report on Tuesday, September 6th. Macquarie initiated coverage on Fastenal in a report on Thursday, August 25th. They issued a neutral rating and a $50.00 price target for the company. Finally, Credit Suisse Group AG restated a neutral rating and issued a $43.00 price target on shares of Fastenal in a report on Friday, June 17th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $47.15.
Fastenal (NASDAQ:FAST) opened at 38.27 on Thursday. Fastenal has a 52-week low of $35.10 and a 52-week high of $49.99. The firm has a 50-day moving average of $41.13 and a 200-day moving average of $43.84. The firm has a market cap of $11.06 billion, a PE ratio of 21.87 and a beta of 0.99.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm earned $1.01 billion during the quarter. During the same period in the prior year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts anticipate that Fastenal will post $1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.20 dividend on an annualized basis and a yield of 3.14%. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.
In other Fastenal news, Director Michael J. Ancius purchased 700 shares of Fastenal stock in a transaction on Thursday, October 13th. The stock was bought at an average price of $38.82 per share, for a total transaction of $27,174.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.78% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in FAST. Stonebridge Capital Management Inc. raised its stake in shares of Fastenal by 50.5% in the third quarter. Stonebridge Capital Management Inc. now owns 13,805 shares of the company’s stock valued at $577,000 after buying an additional 4,630 shares during the period. Advisor Consultant Network Inc. purchased a new stake in shares of Fastenal during the third quarter valued at $418,000. Integrated Investment Consultants LLC raised its stake in shares of Fastenal by 1.1% in the third quarter. Integrated Investment Consultants LLC now owns 7,515 shares of the company’s stock valued at $288,000 after buying an additional 80 shares during the period. National Pension Service raised its stake in shares of Fastenal by 9.3% in the third quarter. National Pension Service now owns 216,335 shares of the company’s stock valued at $9,038,000 after buying an additional 18,476 shares during the period. Finally, MSI Financial Services Inc raised its stake in shares of Fastenal by 34.7% in the third quarter. MSI Financial Services Inc now owns 5,820 shares of the company’s stock valued at $243,000 after buying an additional 1,500 shares during the period. Institutional investors own 82.15% of the company’s stock.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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