Fastenal (NASDAQ:FAST) Announces Earnings Results, Misses Estimates By $0.01 EPS

Fastenal (NASDAQ:FASTGet Free Report) released its quarterly earnings results on Thursday. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01), RTT News reports. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.72% and a return on equity of 34.31%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS.

Fastenal Stock Performance

NASDAQ FAST opened at $69.88 on Friday. The company has a current ratio of 4.57, a quick ratio of 2.27 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $73.74 and its two-hundred day moving average price is $65.72. Fastenal has a 1 year low of $50.30 and a 1 year high of $79.04. The firm has a market capitalization of $39.99 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 3.86 and a beta of 1.05.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.23%. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Insiders Place Their Bets

In other news, insider William Joseph Drazkowski sold 11,968 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $69.10, for a total value of $826,988.80. Following the transaction, the insider now directly owns 5,997 shares of the company’s stock, valued at $414,392.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider William Joseph Drazkowski sold 11,968 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $69.10, for a total value of $826,988.80. Following the transaction, the insider now directly owns 5,997 shares of the company’s stock, valued at $414,392.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reyne K. Wisecup sold 34,042 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,369,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,682 shares of company stock valued at $7,375,853. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fastenal

Several large investors have recently modified their holdings of the stock. Quarry LP grew its stake in shares of Fastenal by 62.3% in the fourth quarter. Quarry LP now owns 409 shares of the company’s stock valued at $26,000 after acquiring an additional 157 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of Fastenal in the fourth quarter valued at about $33,000. O Dell Group LLC acquired a new position in shares of Fastenal in the fourth quarter valued at about $35,000. Sunbelt Securities Inc. grew its stake in shares of Fastenal by 131.7% in the second quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock valued at $35,000 after acquiring an additional 341 shares in the last quarter. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Fastenal in the second quarter valued at about $49,000. 81.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Fastenal from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Stifel Nicolaus boosted their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Fastenal currently has an average rating of “Hold” and an average target price of $68.20.

Read Our Latest Report on Fastenal

About Fastenal

(Get Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Earnings History for Fastenal (NASDAQ:FAST)

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