Fastenal to Post Q2 2024 Earnings of $0.54 Per Share, Zacks Research Forecasts (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) – Analysts at Zacks Research lowered their Q2 2024 earnings estimates for Fastenal in a research report issued to clients and investors on Monday, April 22nd. Zacks Research analyst S. Mukherjee now expects that the company will earn $0.54 per share for the quarter, down from their previous forecast of $0.56. The consensus estimate for Fastenal’s current full-year earnings is $2.13 per share. Zacks Research also issued estimates for Fastenal’s Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $2.12 EPS, Q1 2025 earnings at $0.55 EPS, Q2 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $2.27 EPS, Q1 2026 earnings at $0.58 EPS and FY2026 earnings at $2.42 EPS.

A number of other research analysts have also issued reports on FAST. Robert W. Baird lowered their target price on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Loop Capital dropped their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Finally, HSBC increased their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus price target of $67.67.

Fastenal Trading Down 0.2 %

NASDAQ:FAST opened at $67.45 on Tuesday. The company’s 50 day moving average is $73.57 and its 200-day moving average is $66.55. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The firm has a market cap of $38.62 billion, a price-to-earnings ratio of 33.39, a P/E/G ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company posted $0.52 EPS. The business’s revenue was up 1.9% on a year-over-year basis.

Institutional Investors Weigh In On Fastenal

Several large investors have recently modified their holdings of the stock. Hartford Financial Management Inc. lifted its holdings in shares of Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares during the period. MCF Advisors LLC lifted its holdings in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Fastenal in the fourth quarter valued at about $35,000. Criterion Capital Advisors LLC bought a new stake in Fastenal during the fourth quarter worth about $43,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Fastenal by 283.2% during the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock worth $49,000 after buying an additional 558 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction on Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Insiders have sold a total of 48,050 shares of company stock valued at $3,411,049 over the last three months. 0.41% of the stock is owned by corporate insiders.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s payout ratio is presently 77.23%.

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.