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

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

NASDAQ:FAST opened at $53.83 on Wednesday. The company has a market cap of $30.94 billion, a price-to-earnings ratio of 35.65, a PEG 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 stock’s 50 day simple moving average is $54.20 and its two-hundred day simple moving average is $53.03. Fastenal has a 1 year low of $42.57 and a 1 year high of $56.39.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 23rd. Investors of record on Tuesday, October 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 75.17%.

FAST has been the topic of a number of analyst reports. Stephens lifted their price objective on shares of Fastenal from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 23rd. Loop Capital assumed coverage on Fastenal in a research note on Tuesday, August 3rd. They issued a “hold” rating and a $52.00 price objective on the stock. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Tuesday, September 28th. Wells Fargo & Company cut shares of Fastenal from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $50.00 to $45.00 in a research report on Friday, October 8th. Finally, Robert W. Baird upped their price objective on shares of Fastenal from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.50.

In other Fastenal news, Director Daniel L. Johnson bought 1,000 shares of Fastenal stock in a transaction that occurred on Wednesday, August 4th. The shares were bought at an average cost of $55.48 per share, with a total value of $55,480.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Nicholas J. Lundquist sold 32,980 shares of the stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $56.10, for a total value of $1,850,178.00. Following the completion of the transaction, the director now directly owns 449,012 shares in the company, valued at $25,189,573.20. The disclosure for this sale can be found here. In the last three months, insiders have bought 2,265 shares of company stock worth $123,014 and have sold 142,089 shares worth $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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