Traders Sell Shares of Fastenal (FAST) on Strength After Insider Selling

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Investors sold shares of Fastenal (NASDAQ:FAST) on strength during trading on Thursday following insider selling activity. $24.63 million flowed into the stock on the tick-up and $297.17 million flowed out of the stock on the tick-down, for a money net flow of $272.54 million out of the stock. Of all companies tracked, Fastenal had the 0th highest net out-flow for the day. Fastenal traded up $0.27 for the day and closed at $60.46Specifically, Director Michael John Dolan sold 5,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $900,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

FAST has been the subject of several recent analyst reports. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Wells Fargo & Co set a $50.00 target price on Fastenal and gave the stock a “hold” rating in a research report on Thursday, October 11th. BidaskClub cut Fastenal from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. ValuEngine cut Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Buckingham Research initiated coverage on Fastenal in a research report on Monday, October 22nd. They set a “neutral” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $56.92.

The company has a debt-to-equity ratio of 0.22, a current ratio of 5.30 and a quick ratio of 2.37. The stock has a market capitalization of $17.21 billion, a P/E ratio of 22.99, a PEG ratio of 1.33 and a beta of 1.11.

Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, January 17th. The company reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Fastenal had a return on equity of 33.48% and a net margin of 15.14%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. Analysts forecast that Fastenal will post 2.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 27th. Stockholders of record on Thursday, January 31st will be issued a $0.43 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, January 30th. Fastenal’s dividend payout ratio is presently 60.84%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Fastenal by 7.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 24,132 shares of the company’s stock worth $1,262,000 after purchasing an additional 1,626 shares in the last quarter. OLD National Bancorp IN boosted its holdings in shares of Fastenal by 3.9% in the 4th quarter. OLD National Bancorp IN now owns 97,896 shares of the company’s stock worth $5,119,000 after purchasing an additional 3,694 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Fastenal by 26.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,843 shares of the company’s stock worth $149,000 after purchasing an additional 601 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Fastenal by 20.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 51,511 shares of the company’s stock worth $2,694,000 after purchasing an additional 8,637 shares in the last quarter. Finally, Sigma Planning Corp boosted its holdings in shares of Fastenal by 7.9% in the 4th quarter. Sigma Planning Corp now owns 10,142 shares of the company’s stock worth $530,000 after purchasing an additional 744 shares in the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

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About Fastenal (NASDAQ:FAST)

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

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