Fastenal (NASDAQ:FAST) Releases Earnings Results, Misses Estimates By $0.01 EPS

Fastenal (NASDAQ:FAST) issued its earnings results on Thursday. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01), RTT News reports. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company posted $0.52 EPS. Fastenal’s revenue was up 1.9% compared to the same quarter last year.

Fastenal Price Performance

FAST stock opened at $70.45 on Friday. Fastenal has a 52 week low of $50.30 and a 52 week high of $79.04. The company has a quick ratio of 2.27, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $73.74 and a two-hundred day simple moving average of $65.83. The firm has a market capitalization of $40.31 billion, a P/E ratio of 34.88, a price-to-earnings-growth ratio of 3.61 and a beta of 1.05.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.21%. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Insider Transactions at Fastenal

In other news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,682 shares of company stock worth $7,375,853. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fastenal

Several institutional investors have recently made changes to their positions in FAST. Norges Bank purchased a new position in shares of Fastenal during the fourth quarter worth approximately $405,513,000. Confluence Investment Management LLC bought a new stake in Fastenal during the 1st quarter valued at $195,459,000. Morgan Stanley lifted its holdings in shares of Fastenal by 37.8% in the 4th quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after buying an additional 2,492,722 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Fastenal by 38.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,060,126 shares of the company’s stock worth $392,514,000 after buying an additional 1,668,988 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Fastenal by 47.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after buying an additional 1,505,936 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Robert W. Baird lowered their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.00.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.