Fastenal (NASDAQ:FAST) Releases Quarterly Earnings Results, Meets Expectations

Fastenal (NASDAQ:FAST) announced its earnings results on Tuesday. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42, RTT News reports. Fastenal had a return on equity of 30.76% and a net margin of 15.24%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business posted $0.38 EPS. The company’s revenue was up 10.0% on a year-over-year basis.

NASDAQ:FAST opened at $52.23 on Tuesday. Fastenal has a 12-month low of $42.57 and a 12-month high of $56.39. The firm has a market capitalization of $30.02 billion, a P/E ratio of 34.59, a P/E/G ratio of 3.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.16 and a quick ratio of 2.12. The business has a 50 day simple moving average of $54.25 and a 200 day simple moving average of $53.00.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 23rd. Investors of record on Tuesday, October 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.14%. Fastenal’s dividend payout ratio is currently 75.17%.

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered Fastenal from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $53.00 to $48.00 in a research note on Tuesday, June 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Tuesday, September 28th. Wells Fargo & Company lowered Fastenal from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $50.00 to $45.00 in a research report on Friday. Robert W. Baird lifted their target price on Fastenal from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 14th. Finally, Stephens lifted their target price on Fastenal from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, August 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $53.50.

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the business’s stock in a transaction on Monday, September 13th. The shares were purchased at an average price of $53.20 per share, with a total value of $53,200.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $159,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles S. Miller sold 35,141 shares of the business’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $55.10, for a total value of $1,936,269.10. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,265 shares of company stock valued at $123,014 and have sold 142,089 shares valued at $7,910,739. Insiders own 0.56% of the company’s stock.

Fastenal Company Profile

Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.

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Earnings History for Fastenal (NASDAQ:FAST)

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