Fastenal (NASDAQ:FAST) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Fastenal (NASDAQ:FAST) released its quarterly earnings data on Tuesday. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01, MarketWatch Earnings reports. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Fastenal had a net margin of 15.07% and a return on equity of 31.19%. Fastenal’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS.

Shares of NASDAQ:FAST opened at $45.35 on Wednesday. The company’s 50 day moving average price is $45.81 and its two-hundred day moving average price is $41.98. Fastenal has a 12-month low of $26.72 and a 12-month high of $49.86. The firm has a market cap of $26.01 billion, a PE ratio of 31.28, a PEG ratio of 3.41 and a beta of 1.19. The company has a quick ratio of 1.91, a current ratio of 4.13 and a debt-to-equity ratio of 0.15.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, October 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Fastenal’s payout ratio is presently 72.46%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Tuesday, August 4th. UBS Group assumed coverage on shares of Fastenal in a research note on Tuesday, September 15th. They set a “neutral” rating and a $44.00 price objective on the stock. BidaskClub lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Thursday, September 10th. Wells Fargo & Company lowered shares of Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research note on Thursday, September 3rd. They noted that the move was a valuation call. Finally, Raymond James lowered shares of Fastenal from a “market perform” rating to an “underperform” rating in a research note on Friday, September 4th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $43.18.

In other Fastenal news, VP Leland J. Hein sold 4,710 shares of the stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of $44.35, for a total transaction of $208,888.50. Following the transaction, the vice president now owns 19,032 shares in the company, valued at approximately $844,069.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William Joseph Drazkowski sold 28,554 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $45.59, for a total transaction of $1,301,776.86. Following the transaction, the insider now owns 9,330 shares in the company, valued at approximately $425,354.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,434 shares of company stock worth $4,682,700. Company insiders own 0.57% of the company’s stock.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which 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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