Fastenal (NASDAQ:FAST) Issues Quarterly Earnings Results

Fastenal (NASDAQ:FAST) posted its quarterly earnings data on Thursday. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01), RTT News reports. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share.

Shares of FAST stock opened at $30.95 on Friday. The stock has a market cap of $17.71 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The stock’s 50 day simple moving average is $31.78. Fastenal has a 12-month low of $24.00 and a 12-month high of $35.94. The company has a current ratio of 4.68, a quick ratio of 1.97 and a debt-to-equity ratio of 0.25.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, July 24th. Fastenal’s dividend payout ratio (DPR) is 65.15%.

In related news, CAO Sheryl Ann Lisowski sold 9,166 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $64.22, for a total value of $588,640.52. Following the sale, the chief accounting officer now owns 9,466 shares in the company, valued at approximately $607,906.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Willard D. Oberton sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $70.85, for a total value of $1,771,250.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,470 shares of company stock valued at $11,485,007. Company insiders own 0.56% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC acquired a new stake in shares of Fastenal in the 4th quarter worth approximately $26,000. Investors Research Corp acquired a new stake in shares of Fastenal in the 1st quarter worth approximately $26,000. Strategy Asset Managers LLC acquired a new stake in shares of Fastenal in the 1st quarter worth approximately $32,000. Trustcore Financial Services LLC acquired a new stake in shares of Fastenal in the 1st quarter worth approximately $43,000. Finally, Bremer Bank National Association acquired a new stake in shares of Fastenal in the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

A number of equities analysts have recently issued reports on FAST shares. BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Buckingham Research cut their target price on Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday. Northcoast Research downgraded Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Wells Fargo & Co cut their target price on Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday. Finally, William Blair reissued a “market perform” rating on shares of Luminex in a research note on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.31.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Earnings History for Fastenal (NASDAQ:FAST)

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