FY2018 EPS Estimates for Fastenal Raised by William Blair (FAST)

Fastenal (NASDAQ:FAST) – Stock analysts at William Blair raised their FY2018 earnings estimates for shares of Fastenal in a research note issued on Wednesday. William Blair analyst R. Merkel now expects that the company will earn $2.50 per share for the year, up from their prior estimate of $2.11. William Blair also issued estimates for Fastenal’s FY2019 earnings at $2.72 EPS.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis.

Several other brokerages have also recently issued reports on FAST. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 target price (up from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. BMO Capital Markets reiterated a “hold” rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, January 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $51.00 target price on shares of Fastenal in a research note on Monday, December 11th. Finally, Stephens reiterated a “buy” rating and issued a $62.00 target price (up from $54.00) on shares of Fastenal in a research note on Thursday. One 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 stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.29.

Shares of Fastenal (NASDAQ:FAST) traded up $0.45 on Monday, reaching $53.74. The company had a trading volume of 3,469,400 shares, compared to its average volume of 3,171,031. Fastenal has a 52-week low of $39.79 and a 52-week high of $56.15. The company has a market capitalization of $15,456.61, a PE ratio of 26.74, a PEG ratio of 1.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Fastenal by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock worth $1,374,380,000 after purchasing an additional 943,262 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Fastenal by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock worth $739,306,000 after purchasing an additional 1,297,185 shares in the last quarter. Bares Capital Management Inc. increased its stake in Fastenal by 2.0% in the 3rd quarter. Bares Capital Management Inc. now owns 3,662,915 shares of the company’s stock worth $166,956,000 after purchasing an additional 70,166 shares in the last quarter. Janus Henderson Group PLC increased its stake in Fastenal by 58.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,889,428 shares of the company’s stock worth $131,700,000 after purchasing an additional 1,066,773 shares in the last quarter. Finally, Mcdonald Capital Investors Inc. CA increased its stake in Fastenal by 4.7% in the 3rd quarter. Mcdonald Capital Investors Inc. CA now owns 2,285,396 shares of the company’s stock worth $104,168,000 after purchasing an additional 103,147 shares in the last quarter. 84.60% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Gary A. Polipnick sold 2,634 shares of Fastenal 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 transaction, the insider now directly owns 59,323 shares of the company’s stock, valued at $3,170,814.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the transaction, the vice president now directly owns 20,258 shares in the company, valued at $972,384. The disclosure for this sale can be found here. Insiders have sold 62,746 shares of company stock worth $3,061,819 over the last three months. Corporate insiders own 0.55% of the company’s stock.

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 issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, January 30th. Fastenal’s dividend payout ratio (DPR) is 63.68%.

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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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