William Blair Comments on Fastenal’s Q4 2018 Earnings (FAST)

Fastenal (NASDAQ:FAST) – William Blair cut their Q4 2018 earnings per share estimates for Fastenal in a report issued on Tuesday. William Blair analyst R. Merkel now anticipates that the company will earn $0.59 per share for the quarter, down from their previous forecast of $0.60.

Other equities research analysts also recently issued research reports about 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, January 19th. Credit Suisse Group raised shares of Fastenal to a “buy” rating and set a $61.00 target price for the company in a report on Thursday, January 18th. Stephens upped their target price on shares of Fastenal from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a report on Wednesday, January 17th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $52.00 target price on shares of Fastenal in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Fastenal currently has an average rating of “Buy” and a consensus price target of $53.29.

Shares of Fastenal (NASDAQ FAST) traded down $0.33 during mid-day trading on Thursday, hitting $52.91. 1,902,492 shares of the stock were exchanged, compared to its average volume of 3,284,645. Fastenal has a 12-month low of $39.79 and a 12-month high of $57.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51. The company has a market cap of $15,248.76, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.03.

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

A number of hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in Fastenal by 2.6% in the 4th quarter. Sei Investments Co. now owns 73,536 shares of the company’s stock worth $4,021,000 after purchasing an additional 1,841 shares in the last quarter. ProVise Management Group LLC purchased a new stake in Fastenal in the 4th quarter worth $214,000. Roundview Capital LLC raised its position in shares of Fastenal by 167.4% during the 4th quarter. Roundview Capital LLC now owns 41,315 shares of the company’s stock valued at $2,259,000 after buying an additional 25,865 shares in the last quarter. Ffcm LLC raised its position in shares of Fastenal by 23.3% during the 4th quarter. Ffcm LLC now owns 18,846 shares of the company’s stock valued at $1,031,000 after buying an additional 3,564 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Fastenal by 10.5% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 27,044 shares of the company’s stock valued at $1,479,000 after buying an additional 2,573 shares in the last quarter. Institutional investors and hedge funds own 84.40% of the company’s stock.

In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Leland J. Hein sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the completion of the sale, the insider now owns 22,588 shares in the company, valued at approximately $1,151,988. The disclosure for this sale can be found here. Insiders sold a total of 78,884 shares of company stock valued at $4,059,512 in the last ninety days. 0.55% of the stock is currently owned by insiders.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.48 annualized dividend and a yield of 2.80%. This is an increase from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio is currently 73.63%.

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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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