Fastenal to Post FY2018 Earnings of $2.55 Per Share, Northcoast Research Forecasts (FAST)

Fastenal (NASDAQ:FAST) – Investment analysts at Northcoast Research lifted their FY2018 earnings per share (EPS) estimates for shares of Fastenal in a research report issued to clients and investors on Thursday. Northcoast Research analyst R. Cieslak now expects that the company will post earnings per share of $2.55 for the year, up from their previous estimate of $2.18.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday. Credit Suisse Group raised shares of Fastenal to a “buy” rating and set a $61.00 price objective for the company in a research report on Thursday. Stephens reissued a “buy” rating and issued a $62.00 price objective (up from $54.00) on shares of Fastenal in a research report on Thursday. Robert W. Baird reissued a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $57.00 price objective on shares of Fastenal in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $53.29.

Fastenal (NASDAQ:FAST) traded up $0.45 during trading on Monday, reaching $53.74. 3,469,400 shares of the company’s stock traded hands, compared to its average volume of 3,171,031. The stock has a market cap of $15,456.61, a PE ratio of 26.74, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51. Fastenal has a 12 month low of $39.79 and a 12 month high of $56.15.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio is presently 63.68%.

In related news, insider Gary A. Polipnick sold 2,634 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the sale, the insider now owns 59,323 shares of the company’s stock, valued at $3,170,814.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Leland J. Hein sold 10,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00. Following the sale, the vice president now directly owns 20,258 shares of the company’s stock, valued at approximately $972,384. The disclosure for this sale can be found here. Insiders sold a total of 62,746 shares of company stock valued at $3,061,819 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in Fastenal during the third quarter valued at approximately $114,000. Cable Hill Partners LLC purchased a new stake in Fastenal during the third quarter valued at approximately $126,000. Krilogy Financial LLC lifted its position in Fastenal by 2.0% during the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after acquiring an additional 70 shares during the last quarter. QS Investors LLC increased its stake in Fastenal by 1.6% during the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after purchasing an additional 63 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Fastenal by 14.1% during the 2nd quarter. Advisory Services Network LLC now owns 4,223 shares of the company’s stock valued at $184,000 after purchasing an additional 522 shares in the last quarter. 84.60% of the stock is owned by institutional investors.

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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.

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