Fastenal (NASDAQ:FAST) Receives Average Recommendation of “Reduce” from Analysts

Shares of Fastenal (NASDAQ:FAST) have earned an average recommendation of “Reduce” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $76.91.

A number of equities research analysts recently weighed in on the stock. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Stifel Nicolaus dropped their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Wolfe Research increased their price target on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a report on Wednesday, December 11th.

Fastenal Stock Down 0.0 %

Shares of NASDAQ:FAST opened at $74.78 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The business has a 50 day simple moving average of $74.65 and a two-hundred day simple moving average of $74.07. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The firm has a market capitalization of $42.84 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $0.46 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Institutional Investors Weigh In On Fastenal

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Fastenal by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 72,300,792 shares of the company’s stock worth $5,199,150,000 after purchasing an additional 592,583 shares during the last quarter. State Street Corp increased its position in shares of Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after acquiring an additional 1,346,863 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Fastenal by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock valued at $1,493,214,000 after acquiring an additional 886,999 shares during the period. Geode Capital Management LLC raised its stake in Fastenal by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 16,918,464 shares of the company’s stock worth $1,214,002,000 after acquiring an additional 234,713 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Fastenal by 15.2% during the 4th quarter. Northern Trust Corp now owns 7,322,739 shares of the company’s stock valued at $526,578,000 after purchasing an additional 966,629 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Company Profile

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.