Charles S. Miller Sells 4,376 Shares of Fastenal (NASDAQ:FAST) Stock

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Fastenal (NASDAQ:FAST) EVP Charles S. Miller sold 4,376 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $35.98, for a total transaction of $157,448.48. Following the sale, the executive vice president now directly owns 11,876 shares of the company’s stock, valued at $427,298.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Fastenal stock opened at $36.33 on Friday. The firm’s 50-day simple moving average is $35.10 and its 200 day simple moving average is $36.67. Fastenal has a fifty-two week low of $24.60 and a fifty-two week high of $37.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.06 and a current ratio of 4.51. The stock has a market cap of $20.76 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.63 and a beta of 1.26.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. Fastenal had a net margin of 14.77% and a return on equity of 32.03%. Fastenal’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, analysts predict that Fastenal will post 1.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, October 24th. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.

FAST has been the subject of several recent research reports. BidaskClub downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Fastenal from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a research report on Monday, October 14th. Morgan Stanley boosted their price target on shares of Fastenal from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Cleveland Research restated a “hold” rating on shares of Fastenal in a report on Tuesday, September 24th. Finally, Buckingham Research boosted their price target on shares of Fastenal from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.55.

Institutional investors have recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. increased its holdings in Fastenal by 94.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock worth $25,000 after acquiring an additional 375 shares during the period. Advisors Preferred LLC bought a new stake in Fastenal during the 2nd quarter worth approximately $26,000. Wealthcare Advisory Partners LLC increased its holdings in Fastenal by 101.2% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock worth $27,000 after acquiring an additional 424 shares during the period. Clarus Wealth Advisors increased its holdings in Fastenal by 101.2% during the 2nd quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 425 shares during the period. Finally, FTB Advisors Inc. bought a new stake in Fastenal during the 2nd quarter worth approximately $29,000. 84.28% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Company Profile

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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