Fastenal (NASDAQ:FAST) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $58.17 and last traded at $58.22, with a volume of 546402 shares traded. The stock had previously closed at $57.81.
A number of research firms recently commented on FAST. Robert W. Baird reissued a “buy” rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, March 6th. Northcoast Research set a $60.00 target price on Fastenal and gave the company a “buy” rating in a research note on Friday, March 2nd. BMO Capital Markets reissued a “hold” rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, January 9th. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $61.00 target price (up previously from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Fastenal currently has a consensus rating of “Buy” and a consensus price target of $54.00.
The firm has a market capitalization of $16,674.93, a P/E ratio of 28.79, a PEG ratio of 1.66 and a beta of 0.99. The company has a current ratio of 5.51, a quick ratio of 2.40 and a debt-to-equity ratio of 0.20.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st were paid a dividend of $0.37 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Tuesday, January 30th. Fastenal’s dividend payout ratio (DPR) is 73.63%.
In other news, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the transaction, the insider now directly owns 26,250 shares of the company’s stock, valued at $1,483,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Joseph Drazkowski sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $56.64, for a total value of $424,800.00. Following the transaction, the insider now directly owns 9,460 shares in the company, valued at $535,814.40. The disclosure for this sale can be found here. Insiders have sold 36,384 shares of company stock worth $2,048,712 over the last ninety days. Insiders own 0.56% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Nationwide Fund Advisors grew its stake in shares of Fastenal by 6.0% in the third quarter. Nationwide Fund Advisors now owns 358,913 shares of the company’s stock worth $16,359,000 after purchasing an additional 20,349 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Fastenal by 39.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 133,651 shares of the company’s stock worth $6,092,000 after purchasing an additional 37,895 shares during the last quarter. State of Wisconsin Investment Board grew its stake in shares of Fastenal by 121.7% in the third quarter. State of Wisconsin Investment Board now owns 254,168 shares of the company’s stock worth $11,585,000 after purchasing an additional 139,510 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Fastenal by 42.8% in the third quarter. Prudential Financial Inc. now owns 573,130 shares of the company’s stock worth $26,124,000 after purchasing an additional 171,638 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Fastenal by 0.9% in the third quarter. Swiss National Bank now owns 1,065,577 shares of the company’s stock worth $48,569,000 after purchasing an additional 9,700 shares during the last quarter. 85.00% of the stock is currently owned by hedge funds and other institutional investors.
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Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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