Fastenal (NASDAQ:FAST) – Northcoast Research lowered their Q2 2018 earnings per share (EPS) estimates for shares of Fastenal in a research note issued on Thursday, April 12th. Northcoast Research analyst R. Cieslak now expects that the company will post earnings per share of $0.67 for the quarter, down from their previous forecast of $0.69. Northcoast Research currently has a “Buy” rating and a $60.00 target price on the stock.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, April 11th. The company reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was up 13.2% on a year-over-year basis.
FAST has been the subject of a number of other reports. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 price target (up from $52.00) on shares of Fastenal in a research report on Tuesday, January 9th. Zacks Investment Research downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Robert W. Baird reiterated a “buy” rating and issued a $57.00 price target on shares of Fastenal in a research report on Tuesday, March 6th. Finally, Stephens lifted their price target on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.07.
NASDAQ FAST opened at $50.67 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.11 and a quick ratio of 2.30. Fastenal has a 1-year low of $39.79 and a 1-year high of $58.74. The company has a market capitalization of $14,407.37, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 23rd. Shareholders of record on Wednesday, April 25th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, April 24th. This represents a $1.48 annualized dividend and a yield of 2.92%. Fastenal’s dividend payout ratio is currently 76.68%.
In other news, insider Charles S. Miller sold 26,250 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the transaction, the insider now directly owns 26,250 shares in the company, valued at $1,483,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Joseph Drazkowski sold 7,500 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total transaction of $424,800.00. Following the transaction, the insider now owns 9,460 shares of the company’s stock, valued at $535,814.40. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in FAST. Neuberger Berman Group LLC acquired a new position in shares of Fastenal during the third quarter worth $56,907,000. Element Capital Management LLC acquired a new position in shares of Fastenal during the fourth quarter worth $44,222,000. Elkfork Partners LLC acquired a new position in shares of Fastenal during the fourth quarter worth $43,602,000. OppenheimerFunds Inc. increased 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. Finally, Madison Investment Holdings Inc. increased its holdings in shares of Fastenal by 65.2% during the fourth quarter. Madison Investment Holdings Inc. now owns 1,036,393 shares of the company’s stock worth $56,680,000 after buying an additional 409,114 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.
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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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