Fastenal (FAST) Expected to Earn FY2019 Earnings of $2.80 Per Share

Fastenal (NASDAQ:FAST) – Equities researchers at Northcoast Research issued their FY2019 EPS estimates for shares of Fastenal in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Northcoast Research analyst R. Cieslak anticipates that the company will post earnings of $2.80 per share for the year.

FAST has been the subject of several other reports. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 target price (up from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Stephens boosted their target price on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $51.00 target price on shares of Fastenal in a research note on Monday, December 11th. Finally, Robert W. Baird restated a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Fastenal presently has a consensus rating of “Buy” and a consensus target price of $53.29.

Fastenal (NASDAQ:FAST) traded up $0.73 on Wednesday, hitting $53.57. 1,933,700 shares of the company traded hands, compared to its average volume of 3,227,959. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51. Fastenal has a 1 year low of $39.79 and a 1 year high of $57.81. The firm has a market cap of $15,600.00, a PE ratio of 25.73, a P/E/G ratio of 1.51 and a beta of 1.03.

Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business posted $0.40 EPS. The business’s revenue was up 14.8% compared to the same quarter last year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Fastenal by 1.8% during the fourth quarter. BlackRock Inc. now owns 18,537,864 shares of the company’s stock worth $1,013,833,000 after buying an additional 325,415 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Fastenal by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,263,173 shares of the company’s stock worth $889,434,000 after buying an additional 43,229 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Fastenal by 18.8% during the fourth quarter. OppenheimerFunds Inc. now owns 4,876,680 shares of the company’s stock worth $266,706,000 after buying an additional 772,198 shares in the last quarter. Bares Capital Management Inc. grew its holdings in shares of Fastenal by 2.0% in the third quarter. Bares Capital Management Inc. now owns 3,662,915 shares of the company’s stock valued at $166,956,000 after purchasing an additional 70,166 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Fastenal by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 3,494,513 shares of the company’s stock valued at $190,768,000 after purchasing an additional 95,784 shares during the period. 84.23% of the stock is owned by institutional investors and hedge funds.

In other news, insider Terry Modock Owen sold 30,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles S. Miller sold 26,250 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the sale, the insider now directly owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The disclosure for this sale can be found here. Insiders have sold 78,884 shares of company stock valued at $4,059,512 in the last ninety days. Insiders own 0.55% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.37 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. Fastenal’s dividend payout ratio is presently 70.14%.

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Fastenal Company Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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