Fastenal (NASDAQ:FAST) Posts Earnings Results, Meets Expectations

Fastenal (NASDAQ:FAST) posted its earnings results on Monday. The company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42, MarketWatch Earnings reports. Fastenal had a return on equity of 30.76% and a net margin of 15.24%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis.

Shares of NASDAQ:FAST traded up $0.40 during trading on Wednesday, hitting $54.23. The company’s stock had a trading volume of 86,837 shares, compared to its average volume of 3,109,163. Fastenal has a fifty-two week low of $42.57 and a fifty-two week high of $56.39. The business has a 50 day moving average price of $54.15 and a two-hundred day moving average price of $53.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.12 and a current ratio of 4.16. The company has a market capitalization of $31.17 billion, a PE ratio of 35.82, a P/E/G ratio of 3.83 and a beta of 1.28.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 23rd. Shareholders of record on Tuesday, October 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, October 25th. This represents a $1.12 dividend on an annualized basis and a yield of 2.07%. Fastenal’s dividend payout ratio (DPR) is presently 75.17%.

Several analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Fastenal from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 14th. Loop Capital began coverage on shares of Fastenal in a report on Tuesday, August 3rd. They issued a “hold” rating and a $52.00 price objective on the stock. Morgan Stanley cut shares of Fastenal from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $53.00 to $48.00 in a research report on Tuesday, June 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, September 28th. Finally, Wells Fargo & Company cut Fastenal from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $50.00 to $45.00 in a research note on Friday, October 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.50.

In related news, Director Daniel L. Johnson purchased 1,000 shares of Fastenal stock in a transaction on Wednesday, August 4th. The shares were bought at an average price of $55.48 per share, with a total value of $55,480.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Charles S. Miller sold 35,141 shares of Fastenal stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $55.10, for a total transaction of $1,936,269.10. The disclosure for this sale can be found here. Over the last quarter, insiders bought 2,265 shares of company stock worth $123,014 and sold 142,089 shares worth $7,910,739. 0.56% of the stock is currently owned by company insiders.

About Fastenal

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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