Fastenal (NASDAQ:FAST) Issues Earnings Results

Fastenal (NASDAQ:FAST) announced its quarterly earnings results on Friday. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51, Briefing.com reports. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year.

Fastenal Trading Up 1.0 %

Shares of Fastenal stock opened at $64.17 on Friday. The business has a fifty day simple moving average of $64.93 and a 200-day simple moving average of $68.49. The firm has a market cap of $36.74 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 3.41 and a beta of 1.01. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.43%. Fastenal’s dividend payout ratio is presently 77.23%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Robert W. Baird reduced their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. HSBC boosted their price objective on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Loop Capital lowered their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus boosted their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Jefferies Financial Group lowered their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.17.

Insiders Place Their Bets

In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the purchase, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Hsenghung Sam Hsu bought 500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the acquisition, the director now directly owns 3,500 shares in the company, valued at $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is owned by company insiders.

Fastenal Company Profile

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.