Intel stock spikes after report of possible US government stake
Fastenal (NASDAQ:FAST) President and Chief Sales Officer Jeffery Michael Watts sold a total of 48,724 shares of common stock on August 8, 2025. The sales, executed in two transactions, generated $2.34 million. The price per share for these sales ranged from $48.0494 to $48.0507. The transaction comes as Fastenal trades near its 52-week high of $48.38, with the stock showing impressive momentum, up 31% over the past six months.
On the same day, Watts also exercised options to acquire 48,724 shares of Fastenal common stock, paying between $13.0 and $13.75 per share, for a total value of $657955. According to InvestingPro analysis, Fastenal appears overvalued at current levels, trading at a P/E ratio of 46.4x. InvestingPro subscribers have access to 20 additional key insights about Fastenal, including detailed valuation metrics and financial health indicators.
In other recent news, Fastenal reported its second-quarter 2025 earnings, revealing a strong performance with earnings per share of $0.29, surpassing the forecast of $0.28. The company’s revenue reached $2.08 billion, slightly exceeding expectations. Following these results, BofA Securities raised its price target for Fastenal to $49.00 from $42.50, maintaining a Buy rating. Baird upgraded Fastenal from Neutral to Outperform, citing expectations of accelerating growth and strategic changes. Additionally, JPMorgan increased its price target to $41.00, acknowledging the company’s strong margins and projecting higher pricing in the fourth quarter. UBS maintained a Neutral rating with a $41.00 price target, noting Fastenal’s accelerating sales growth. Daily sales growth reached 9.8% year over year, surpassing UBS’s expectation. These developments reflect growing confidence in Fastenal’s performance and strategic direction.
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