William Blair Weighs in on Fastenal’s FY2024 Earnings (NASDAQ:FAST)

Fastenal (NASDAQ:FASTFree Report) – Equities researchers at William Blair dropped their FY2024 EPS estimates for Fastenal in a note issued to investors on Thursday, June 6th. William Blair analyst R. Merkel now expects that the company will post earnings per share of $2.11 for the year, down from their previous forecast of $2.13. The consensus estimate for Fastenal’s current full-year earnings is $2.11 per share. William Blair also issued estimates for Fastenal’s FY2025 earnings at $2.30 EPS.

Other research analysts also recently issued reports about the company. Loop Capital reduced their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Stifel Nicolaus increased their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. HSBC raised their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, Robert W. Baird dropped their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.33.

View Our Latest Stock Analysis on FAST

Fastenal Stock Performance

NASDAQ FAST opened at $64.01 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The stock’s 50 day simple moving average is $68.65 and its 200-day simple moving average is $68.25. The company has a market cap of $36.65 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.43 and a beta of 1.02. Fastenal has a 1-year low of $52.86 and a 1-year high of $79.04.

Fastenal (NASDAQ:FASTGet Free Report) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Buying and Selling at Fastenal

In related news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson purchased 3,350 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of Fastenal

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Essex Financial Services Inc. grew its stake in shares of Fastenal by 1.8% in the fourth quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock valued at $553,000 after buying an additional 148 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in Fastenal by 1.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after acquiring an additional 150 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Fastenal by 0.8% during the fourth quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock worth $1,237,000 after purchasing an additional 152 shares during the period. Hartford Financial Management Inc. lifted its position in shares of Fastenal by 46.9% during 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. Finally, Team Hewins LLC lifted its position in shares of Fastenal by 4.8% during the first quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock worth $263,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

About Fastenal

(Get Free Report)

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.

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Earnings History and Estimates for Fastenal (NASDAQ:FAST)

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