The stock last traded at $48.92 marginally over $45.17, the 50 day moving average and which is quite a bit above the 200 day moving average of $44.09. The 50 day moving average went up $3.75 or +8.30% and the 200 day average was up $4.83. 2,098K shares changed hands in the last trading session. Shares saw a steep decrease in trading volume of 32.32% under the normal average daily volume.
Short traders are more bullish on shares of Fastenal Company lately as evidenced by the downtick in short interest. The stock had a fall in short interest from September 15, 2017 to September 29, 2017 of -1.38%. Short shares decreased from 28,692,120 to 28,296,108 over that period. The days to cover increased to 13.0 and the percentage of shorted shares was 0.10% on September 29.
Here is a rundown on some insider market activity for Fastenal Company (NASDAQ:FAST). Leland J. Hein, Senior Executive VP let go of $487,400 worth of shares at an average price of $48.74 on Wed the 18th. That brings the Senior Executive VP’s holdings to $499,975 as recorded in a recent Form 4 SEC filing. Senior Executive VP Leland J. Hein sold 10,000 shares at an average price of $47.14 on October 16th. That brings Hein’s holdings to $532,211 as reported to the SEC.
These firms have modified their investment in FAST. As of the end of the quarter Harvey Investment Co LLC had bought a total of 21,795 shares growing its stake by 6.3%. The value in dollars increased from $15,027,000 to $16,728,000 increasing 11.3% since the last quarter. Diamond Hill Capital Management Inc augmented its investment by buying 315,524 shares an increase of 60.8% in the quarter. Diamond Hill Capital Management Inc now controls 834,312 shares valued at $38,028,000. The total value of its holdings increased 68.4%.
Wealthtrust-arizona, LLC bolstered its ownership by buying 124 shares an increase of 26.2% as of 09/30/2017. Wealthtrust-arizona, LLC now holds 598 shares worth $27,000. The value of the position overall is up by 28.6%. As of quarter end American Capital Management Inc had disposed of 11,630 shares trimming its holdings by 8.9%. The value of the investment in FAST went from $5,718,000 to $5,458,000 a change of $260,000 for the reporting period.
On July 12 the company was rated “Outperform” according to a Baird report a boost from the previous “Neutral” rating. On July 13 the stock rating was upgraded to “Strong Buy” from “Market Perform” in a report from Raymond James.
On July 25, 2017 Northcoast Research starting coverage on the stock setting a rating of “Buy”. On October 2 Morgan Stanley left the company rating at “Equal-Weight” and moved up the price target from $44.00 to $46.00.
The company is so far trading up since yesterday’s close of 48.39. The company recently declared a dividend for shareholders that will be paid on Wed Nov 22, 2017. The dividend will be $0.320 per share for the quarter which comes to $1.28 on an annualized basis. This dividend amount will represent a yield of $2.65. The ex-dividend date has been established as Monday the 24th of July 2017.
The P/E ratio is 26.09 and market cap is 14.06B. As of the latest earnings report the EPS was $1.88 and is expected to be $1.93 for the current year with 287,390,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.51 and the next full year EPS is anticipated to be $2.13.
Fastenal Company, launched on December 24, 1968, is involved in wholesale distribution of industrial and construction supplies. The Company is involved 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 company-owned stores. Most of its customers are in the manufacturing and non-residential construction markets. The manufacturing market includes both original equipment manufacturers (OEM) and maintenance, repair, and operations (MRO). The non-residential construction market includes general, electrical, plumbing, sheet metal and road contractors. Other users of its products include farmers, truckers, railroads, oil exploration, production and refinement companies, mining companies, federal, state, and local governmental entities, schools and certain retail trades. Geographically, its stores and customers are primarily located in North America..