Fastenal (NASDAQ:FAST) posted its quarterly earnings results on Tuesday. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01, MarketWatch Earnings reports. Fastenal had a return on equity of 30.63% and a net margin of 15.12%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis.
Shares of FAST stock traded down $0.42 during trading on Thursday, hitting $48.28. The company’s stock had a trading volume of 135,893 shares, compared to its average volume of 3,462,252. The company has a market cap of $27.72 billion, a PE ratio of 33.36, a P/E/G ratio of 3.69 and a beta of 1.21. The company has a current ratio of 4.39, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $49.44 and a 200-day moving average of $46.91. Fastenal has a 52 week low of $26.72 and a 52 week high of $51.89.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 3rd. Stockholders of record on Wednesday, February 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, February 2nd. Fastenal’s dividend payout ratio is presently 72.46%.
FAST has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Fastenal from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a report on Wednesday, December 16th. Stephens initiated coverage on Fastenal in a report on Thursday, October 15th. They set an “overweight” rating for the company. Morgan Stanley boosted their price objective on Fastenal from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Argus boosted their price objective on Fastenal from $43.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $44.45.
In other Fastenal news, CAO Sheryl Ann Lisowski sold 7,114 shares of the stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $49.62, for a total transaction of $352,996.68. Following the completion of the transaction, the chief accounting officer now directly owns 4,514 shares of the company’s stock, valued at $223,984.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James C. Jansen sold 35,000 shares of the stock in a transaction on Monday, November 30th. The shares were sold at an average price of $49.50, for a total value of $1,732,500.00. Following the transaction, the executive vice president now directly owns 60,176 shares of the company’s stock, valued at $2,978,712. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
Further Reading: Margin
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