Fastenal Company (NASDAQ:FAST) Given Consensus Rating of “Hold” by Brokerages

Fastenal Company (NASDAQ:FAST) has been assigned an average rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $49.5714.

FAST has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Benchmark restated a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Barclays set a $46.00 target price on Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Bank of America boosted their price objective on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th.

Institutional Investors Weigh In On Fastenal

Several institutional investors and hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its holdings in shares of Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after buying an additional 147 shares during the period. Tandem Investment Advisors Inc. raised its holdings in shares of Fastenal by 1.8% in the 1st quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock valued at $573,000 after buying an additional 224 shares during the period. Sittner & Nelson LLC raised its holdings in shares of Fastenal by 0.3% in the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock valued at $2,749,000 after buying an additional 226 shares during the period. Founders Capital Management LLC raised its holdings in shares of Fastenal by 2.2% in the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock valued at $418,000 after buying an additional 228 shares during the period. Finally, Sound Income Strategies LLC raised its holdings in shares of Fastenal by 12.9% in the 1st quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock valued at $94,000 after buying an additional 232 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

NASDAQ:FAST opened at $47.10 on Wednesday. Fastenal has a 52 week low of $38.97 and a 52 week high of $50.63. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $54.07 billion, a P/E ratio of 41.32, a P/E/G ratio of 3.00 and a beta of 0.73. The stock’s fifty day moving average is $45.06 and its two-hundred day moving average is $44.65.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts expect that Fastenal will post 1.23 EPS for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, April 28th. Fastenal’s payout ratio is currently 84.21%.

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.