Fastenal (NASDAQ:FAST) posted its quarterly earnings results on Wednesday. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.08, RTT News reports. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis.

Fastenal (FAST) opened at $55.44 on Wednesday. Fastenal has a one year low of $39.79 and a one year high of $56.15. The stock has a market cap of $15,976.03, a PE ratio of 29.49, a P/E/G ratio of 1.86 and a beta of 1.09. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be paid a $0.37 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a yield of 2.67%. Fastenal’s dividend payout ratio is presently 68.09%.

A number of analysts have recently weighed in on FAST shares. KeyCorp reiterated a “buy” rating and set a $52.00 target price on shares of Fastenal in a report on Thursday, October 12th. Stephens set a $54.00 target price on shares of Fastenal and gave the stock a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, December 26th. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 target price (up from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $57.00 target price on shares of Fastenal in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $52.93.

In related news, insider Leland J. Hein sold 10,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total value of $510,000.00. Following the completion of the transaction, the insider now directly owns 22,588 shares of the company’s stock, valued at $1,151,988. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary A. Polipnick sold 2,634 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the transaction, the insider now directly owns 59,323 shares of the company’s stock, valued at $3,170,814.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,746 shares of company stock valued at $3,061,819. 0.55% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FAST. Federated Investors Inc. PA increased its stake in shares of Fastenal by 247.4% during the second quarter. Federated Investors Inc. PA now owns 7,053 shares of the company’s stock valued at $307,000 after purchasing an additional 5,023 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Fastenal by 280.3% during the second quarter. JPMorgan Chase & Co. now owns 245,340 shares of the company’s stock valued at $10,681,000 after purchasing an additional 180,836 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Fastenal by 43.4% during the second quarter. Schroder Investment Management Group now owns 125,739 shares of the company’s stock valued at $5,348,000 after purchasing an additional 38,083 shares in the last quarter. Commonwealth Bank of Australia increased its stake in shares of Fastenal by 44.9% during the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after purchasing an additional 753 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Fastenal by 45.8% during the second quarter. Franklin Resources Inc. now owns 36,441 shares of the company’s stock valued at $1,586,000 after purchasing an additional 11,439 shares in the last quarter. 84.57% of the stock is owned by institutional investors and hedge funds.

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Fastenal Company Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Earnings History for Fastenal (NASDAQ:FAST)

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