Fastenal (NASDAQ:FAST) Releases Quarterly Earnings Results, Meets Estimates

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

Shares of FAST traded up $0.09 during trading hours on Wednesday, reaching $53.92. The company’s stock had a trading volume of 105,631 shares, compared to its average volume of 3,109,163. The firm has a market cap of $30.99 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 3.83 and a beta of 1.28. The company has a quick ratio of 2.12, a current ratio of 4.16 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $54.15 and a two-hundred day moving average of $53.05. Fastenal has a 1-year low of $42.57 and a 1-year high of $56.39.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 23rd. Shareholders of record on Tuesday, October 26th will be given a $0.28 dividend. 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%.

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction dated Monday, September 13th. The stock was bought at an average cost of $53.20 per share, for a total transaction of $53,200.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at $159,600. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Charles S. Miller sold 35,141 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $55.10, for a total value of $1,936,269.10. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 2,265 shares of company stock valued at $123,014 and have sold 142,089 shares valued at $7,910,739. 0.56% of the stock is owned by corporate insiders.

FAST has been the subject of several analyst reports. Loop Capital initiated coverage on shares of Fastenal in a report on Tuesday, August 3rd. They set a “hold” rating and a $52.00 price target for the company. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Tuesday, September 28th. Stephens boosted their price target on shares of Fastenal from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, August 23rd. Morgan Stanley downgraded shares of Fastenal from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $53.00 to $48.00 in a report on Tuesday, June 15th. They noted that the move was a valuation call. 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 report on Wednesday, July 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus target price of $53.50.

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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