Markets

FAST Trading Below Director's Recent Buy Price

A person taking notes from their tablet
Credit: Shutterstock photo

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on April 25, Fastenal Co.'s Director, Michael J. Ancius, invested $22,181.25 into 455 shares of FAST, for a cost per share of $48.75. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Fastenal Co. (Symbol: FAST) and achieve a cost basis even cheaper than Ancius, with shares changing hands as low as $48.60 per share. Fastenal Co. shares are currently trading down about 2.8% on the day. The chart below shows the one year performance of FAST shares, versus its 200 day moving average:

Fastenal Co. Chart

Looking at the chart above, FAST's low point in its 52 week range is $39.79 per share, with $58.735 as the 52 week high point - that compares with a last trade of $48.67. By comparison, below is a table showing the prices at which FAST insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
04/25/2018 Michael J. Ancius Director 455 $48.75 $22,181.25
04/27/2018 Stephen L. Eastman Director 700 $50.31 $35,218.68

The current annualized dividend paid by Fastenal Co. is $1.48/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 04/24/2018. Below is a long-term dividend history chart for FAST, which can be of good help in judging whether the most recent dividend with approx. 3.0% annualized yield is likely to continue.

FAST+Dividend+History+Chart

According to the ETF Finder at ETF Channel, FAST makes up 1.84% of the First Trust Materials AlphaDEX Fund ETF (Symbol: FXZ) which is trading lower by about 1.7% on the day Tuesday.

Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

FAST FXZ

Other Topics

Options

Latest Markets Videos