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

Fastenal (NASDAQ:FAST) released its earnings results on Tuesday. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01, MarketWatch Earnings reports. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Fastenal had a return on equity of 30.63% and a net margin of 15.12%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share.

Shares of Fastenal stock traded down $0.74 during trading on Thursday, reaching $47.96. 62,139 shares of the stock were exchanged, compared to its average volume of 3,462,252. The company has a quick ratio of 2.16, a current ratio of 4.39 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $49.44 and its 200 day moving average is $46.91. The firm has a market cap of $27.53 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 3.69 and a beta of 1.21. Fastenal has a 1 year low of $26.72 and a 1 year high of $51.89.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 3rd. Stockholders of record on Wednesday, February 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, February 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.34%. Fastenal’s dividend payout ratio is currently 72.46%.

In other news, EVP James C. Jansen sold 35,000 shares of the stock in a transaction dated Monday, November 30th. The shares were sold at an average price of $49.50, for a total transaction of $1,732,500.00. Following the completion of the sale, the executive vice president now directly owns 60,176 shares in the company, valued at $2,978,712. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sheryl Ann Lisowski sold 7,114 shares of the stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $49.62, for a total transaction of $352,996.68. Following the sale, the chief accounting officer now owns 4,514 shares of the company’s stock, valued at $223,984.68. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

FAST has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut Fastenal from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Wednesday, December 16th. Argus raised their price objective on Fastenal from $43.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Stephens began coverage on Fastenal in a research note on Thursday, October 15th. They set an “overweight” rating on the stock. Finally, Morgan Stanley raised their price objective on Fastenal from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $44.45.

Fastenal Company Profile

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, 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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