Fastenal (NASDAQ:FAST) Issues Earnings Results

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Fastenal (NASDAQ:FAST) posted its quarterly earnings data on Thursday. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01), RTT News reports. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Fastenal had a net margin of 14.74% and a return on equity of 32.27%. Fastenal’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS.

FAST opened at $30.95 on Friday. Fastenal has a 12 month low of $24.00 and a 12 month high of $35.94. The firm has a market cap of $17.71 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.68 and a quick ratio of 1.97. The business’s fifty day moving average is $31.78.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, July 25th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.88 annualized dividend and a yield of 2.84%. Fastenal’s payout ratio is 65.15%.

FAST has been the topic of several research analyst reports. Northcoast Research downgraded Fastenal from a “buy” rating to a “neutral” rating in a report on Monday, April 15th. They noted that the move was a valuation call. BidaskClub upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Raymond James reiterated a “hold” rating and issued a $19.50 price objective on shares of in a report on Friday. William Blair reiterated a “market perform” rating on shares of Luminex in a report on Tuesday, May 7th. Finally, Morgan Stanley upgraded to an “overweight” rating and set a GBX 400 ($5.23) price objective on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.31.

In related news, insider Leland J. Hein sold 19,929 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $70.37, for a total transaction of $1,402,403.73. Following the completion of the transaction, the insider now directly owns 14,931 shares of the company’s stock, valued at approximately $1,050,694.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $71.38, for a total value of $713,800.00. Following the transaction, the chief accounting officer now directly owns 10,300 shares of the company’s stock, valued at $735,214. The disclosure for this sale can be found here. Insiders have sold a total of 163,470 shares of company stock valued at $11,485,007 over the last three months. 0.56% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FAST. London Co. of Virginia acquired a new position in Fastenal during the 4th quarter worth $168,189,000. Norges Bank acquired a new position in Fastenal during the 4th quarter worth $135,756,000. Riverbridge Partners LLC grew its stake in Fastenal by 91.0% during the 2nd quarter. Riverbridge Partners LLC now owns 3,053,420 shares of the company’s stock worth $99,511,000 after purchasing an additional 1,454,579 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV grew its stake in Fastenal by 100.0% during the 2nd quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 2,000,000 shares of the company’s stock worth $65,180,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC grew its stake in Fastenal by 112.2% during the 2nd quarter. Douglass Winthrop Advisors LLC now owns 1,421,607 shares of the company’s stock worth $46,330,000 after purchasing an additional 751,796 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Fastenal Company Profile

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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