Fastenal (NASDAQ:FAST) – KeyCorp decreased their Q3 2019 earnings estimates for Fastenal in a report issued on Thursday, April 11th. KeyCorp analyst S. Barger now anticipates that the company will post earnings per share of $0.73 for the quarter, down from their prior forecast of $0.74. KeyCorp also issued estimates for Fastenal’s FY2020 earnings at $3.01 EPS.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Thursday, April 11th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. During the same quarter in the prior year, the company posted $0.61 EPS.
Several other equities research analysts have also recently weighed in on FAST. Buckingham Research set a $65.00 price target on shares of Fastenal and gave the company a “hold” rating in a research report on Friday. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “sell” rating in a research report on Thursday, January 3rd. Raymond James set a $78.00 price target on shares of Fastenal and gave the company a “buy” rating in a research report on Friday. BidaskClub raised shares of Fastenal from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 24th. Finally, Argus reissued a “positive” rating on shares of Fastenal in a research report on Friday, January 18th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Fastenal currently has an average rating of “Hold” and a consensus target price of $60.90.
Shares of FAST opened at $68.77 on Monday. The firm has a market cap of $19.60 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.50 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 2.37. Fastenal has a twelve month low of $47.37 and a twelve month high of $69.88.
Institutional investors have recently modified their holdings of the stock. Berman Capital Advisors LLC bought a new position in shares of Fastenal in the 4th quarter worth about $26,000. AdvisorNet Financial Inc increased its stake in shares of Fastenal by 46.9% in the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after acquiring an additional 180 shares in the last quarter. Avestar Capital LLC increased its stake in shares of Fastenal by 3,163.2% in the 4th quarter. Avestar Capital LLC now owns 620 shares of the company’s stock worth $30,000 after acquiring an additional 601 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Fastenal in the 4th quarter worth about $39,000. Finally, Bremer Trust National Association bought a new position in shares of Fastenal in the 4th quarter worth about $39,000. Institutional investors own 86.58% of the company’s stock.
In related news, Director Michael John Dolan sold 2,500 shares of the stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $750,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leland J. Hein sold 22,500 shares of the stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $63.13, for a total transaction of $1,420,425.00. Following the completion of the transaction, the insider now owns 30,111 shares of the company’s stock, valued at $1,900,907.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,083 shares of company stock valued at $5,458,662. Corporate insiders own 0.56% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th will be given a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $1.72 annualized dividend and a dividend yield of 2.50%. Fastenal’s dividend payout ratio is 65.40%.
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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