Fastenal (NASDAQ:FAST) Announces Quarterly Earnings Results

Fastenal (NASDAQ:FAST) posted its earnings results on Thursday. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01), RTT News reports. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share.

Fastenal Trading Up 0.8 %

Shares of NASDAQ:FAST opened at $70.45 on Friday. The company’s 50-day moving average price is $73.74 and its two-hundred day moving average price is $65.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.27. Fastenal has a one year low of $50.30 and a one year high of $79.04. The stock has a market capitalization of $40.31 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 3.61 and a beta of 1.05.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.21%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FAST shares. Stifel Nicolaus raised their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Robert W. Baird cut their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.00.

Insiders Place Their Bets

In other news, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Reyne K. Wisecup sold 34,042 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $68.48, for a total value of $2,331,196.16. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,369,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. Insiders have sold 105,682 shares of company stock valued at $7,375,853 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fastenal

Several large investors have recently modified their holdings of FAST. Quarry LP lifted its position in shares of Fastenal by 62.3% during the fourth quarter. Quarry LP now owns 409 shares of the company’s stock valued at $26,000 after purchasing an additional 157 shares in the last quarter. Hartford Financial Management Inc. increased its stake in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastenal in the 4th quarter valued at $35,000. O Dell Group LLC purchased a new position in Fastenal during the fourth quarter worth about $35,000. Finally, Sunbelt Securities Inc. increased its position in shares of Fastenal by 131.7% in the second quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 341 shares during the last quarter. 81.38% 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, 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.