Fastenal (NASDAQ:FAST – Get Rating) will be releasing its earnings data before the market opens on Thursday, October 13th. Analysts expect Fastenal to post earnings of $0.48 per share for the quarter. Persons that wish to listen to the company's earnings conference call can do so using this link.
Fastenal (NASDAQ:FAST – Get Rating) last announced its quarterly earnings data on Wednesday, July 13th. The company reported $0.50 earnings per share for the quarter, meeting analysts' consensus estimates of $0.50. Fastenal had a net margin of 15.70% and a return on equity of 33.47%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $0.42 EPS. The firm's revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts expect Fastenal to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
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Fastenal Trading Down 0.5 %
NASDAQ:FAST opened at $48.13 on Thursday. Fastenal has a one year low of $45.68 and a one year high of $64.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.75 and a current ratio of 3.71. The firm has a market cap of $27.66 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.83 and a beta of 1.20. The firm has a 50-day simple moving average of $50.82 and a 200-day simple moving average of $52.41.
Fastenal announced that its board has approved a stock repurchase plan on Tuesday, July 12th that allows the company to repurchase 8,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
Fastenal Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, July 27th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, July 26th. This represents a $1.24 annualized dividend and a dividend yield of 2.58%. Fastenal's dividend payout ratio is currently 69.27%.
Insider Activity at Fastenal
In related news, VP Charles S. Miller sold 23,136 shares of the business's stock in a transaction on Monday, August 15th. The shares were sold at an average price of $55.90, for a total value of $1,293,302.40. Following the completion of the transaction, the vice president now directly owns 7,500 shares in the company, valued at approximately $419,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Fastenal news, VP Charles S. Miller sold 23,136 shares of the company's stock in a transaction on Monday, August 15th. The shares were sold at an average price of $55.90, for a total transaction of $1,293,302.40. Following the completion of the transaction, the vice president now directly owns 7,500 shares in the company, valued at $419,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness acquired 4,000 shares of Fastenal stock in a transaction on Wednesday, September 14th. The shares were bought at an average price of $48.00 per share, with a total value of $192,000.00. Following the completion of the transaction, the chief executive officer now directly owns 281,929 shares of the company's stock, valued at approximately $13,532,592. The disclosure for this purchase can be found here. Insiders bought a total of 6,058 shares of company stock worth $289,435 in the last three months. Company insiders own 0.40% of the company's stock.
Institutional Investors Weigh In On Fastenal
Hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC raised its position in shares of Fastenal by 7.6% in the first quarter. Penserra Capital Management LLC now owns 2,767 shares of the company's stock valued at $164,000 after buying an additional 196 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Fastenal in the second quarter valued at about $208,000. Brighton Jones LLC grew its holdings in shares of Fastenal by 7.2% in the first quarter. Brighton Jones LLC now owns 4,752 shares of the company's stock valued at $282,000 after purchasing an additional 320 shares during the period. Fund Management at Engine No. 1 LLC purchased a new stake in shares of Fastenal in the first quarter valued at about $289,000. Finally, Horizon Investments LLC grew its holdings in shares of Fastenal by 20.5% in the first quarter. Horizon Investments LLC now owns 5,105 shares of the company's stock valued at $302,000 after purchasing an additional 869 shares during the period. 78.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently commented on FAST shares. UBS Group reduced their price objective on shares of Fastenal from $62.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, July 14th. Argus reduced their price objective on shares of Fastenal from $66.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, July 15th. Morgan Stanley reduced their price objective on shares of Fastenal from $48.00 to $42.00 and set an "underweight" rating for the company in a research note on Thursday, July 14th. StockNews.com lowered shares of Fastenal from a "buy" rating to a "hold" rating in a research note on Tuesday, September 13th. Finally, Robert W. Baird lowered shares of Fastenal from an "outperform" rating to a "neutral" rating and set a $48.00 price objective for the company. in a research note on Thursday, July 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Fastenal has an average rating of "Hold" and a consensus price target of $52.00.
Fastenal Company Profile
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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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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