HSBC Boosts Fastenal (NASDAQ:FAST) Price Target to $64.00

Fastenal (NASDAQ:FAST) had its target price hoisted by HSBC from $59.00 to $64.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

FAST has been the topic of a number of other reports. Stifel Nicolaus raised their target price on Fastenal from $75.00 to $85.00 and gave the stock a buy rating in a report on Monday, March 18th. Robert W. Baird decreased their price objective on Fastenal from $77.00 to $71.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $67.67.

Fastenal Stock Down 0.5 %

Fastenal stock opened at $68.48 on Monday. The stock has a market cap of $39.19 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 3.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The stock has a fifty day moving average of $73.70 and a 200 day moving average of $66.20. Fastenal has a one year low of $52.28 and a one year high of $79.04.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. As a group, sell-side analysts predict that Fastenal will post 2.13 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Insider Activity

In related news, Director Reyne K. Wisecup sold 34,042 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,369,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Reyne K. Wisecup sold 34,042 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $1,369,600. The disclosure for this sale can be found here. Insiders have sold a total of 105,682 shares of company stock worth $7,375,853 over the last quarter. Insiders own 0.41% of the company’s stock.

Institutional Trading of Fastenal

Large investors have recently made changes to their positions in the business. Roundview Capital LLC raised its stake in shares of Fastenal by 0.6% in the first quarter. Roundview Capital LLC now owns 85,339 shares of the company’s stock valued at $5,069,000 after acquiring an additional 479 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Fastenal by 55.3% during the first quarter. Vontobel Holding Ltd. now owns 19,099 shares of the company’s stock valued at $1,140,000 after buying an additional 6,797 shares during the period. Sei Investments Co. boosted its position in shares of Fastenal by 18.1% during the first quarter. Sei Investments Co. now owns 239,760 shares of the company’s stock valued at $14,218,000 after buying an additional 36,709 shares during the period. Cetera Investment Advisers grew its stake in shares of Fastenal by 24.6% during the first quarter. Cetera Investment Advisers now owns 26,251 shares of the company’s stock valued at $1,559,000 after buying an additional 5,190 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of Fastenal by 9.0% in the first quarter. Moors & Cabot Inc. now owns 9,534 shares of the company’s stock worth $566,000 after buying an additional 786 shares during the period. 81.38% of the stock is currently owned by institutional investors.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.