Fastenal FY2027 EPS Estimate Decreased by William Blair

Key Points

• William Blair has reduced its FY2027 earnings per share (EPS) estimate for Fastenal to $1.34, slightly down from the previous estimate of $1.35, while the consensus EPS estimate for the current full year is $2.15.
• Fastenal reported $0.29 EPS for the recent quarter, missing the consensus estimate of $0.30, but achieved revenue of $2.13 billion, matching analysts' expectations.
• The company announced a quarterly dividend of $0.22 per share, with a yield of 2.1% and an upcoming ex-dividend date on October 28th.

Fastenal Company (NASDAQ:FAST - Free Report) - Research analysts at William Blair cut their FY2027 earnings per share (EPS) estimates for shares of Fastenal in a report released on Monday, October 13th. William Blair analyst R. Merkel now forecasts that the company will earn $1.34 per share for the year, down from their previous estimate of $1.35. The consensus estimate for Fastenal's current full-year earnings is $2.15 per share.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share.

Other equities analysts have also issued reports about the company. Robert W. Baird reduced their price objective on Fastenal from $53.00 to $49.00 and set an "outperform" rating on the stock in a research report on Tuesday. Northcoast Research started coverage on Fastenal in a report on Thursday, August 21st. They issued a "neutral" rating for the company. Barclays set a $45.00 price objective on Fastenal and gave the stock an "equal weight" rating in a report on Tuesday. Loop Capital restated a "hold" rating on shares of Fastenal in a research note on Tuesday, July 15th. Finally, Wolfe Research reaffirmed a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $46.50.

Fastenal Price Performance

Shares of Fastenal stock opened at $42.75 on Wednesday. The company has a current ratio of 4.26, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $49.06 billion, a PE ratio of 39.95, a price-to-earnings-growth ratio of 3.84 and a beta of 0.94. The business's 50-day moving average price is $48.15 and its 200-day moving average price is $43.96. Fastenal has a 12 month low of $35.31 and a 12 month high of $50.63.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.1%. Fastenal's payout ratio is 84.62%.

Insider Buying and Selling

In related news, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction on Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the transaction, the executive vice president owned 11,994 shares in the company, valued at $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,230 shares of company stock valued at $5,288,364 over the last three months. 0.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastenal

Several institutional investors and hedge funds have recently bought and sold shares of the stock. DAVENPORT & Co LLC lifted its position in Fastenal by 1.9% during the third quarter. DAVENPORT & Co LLC now owns 51,940 shares of the company's stock valued at $2,547,000 after purchasing an additional 988 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Fastenal by 1.6% in the third quarter. IFM Investors Pty Ltd now owns 226,034 shares of the company's stock valued at $11,008,000 after acquiring an additional 3,496 shares in the last quarter. Monument Capital Management purchased a new position in shares of Fastenal in the third quarter valued at about $207,000. Ellenbecker Investment Group purchased a new position in shares of Fastenal in the third quarter valued at about $652,000. Finally, Security National Bank of SO Dak purchased a new position in shares of Fastenal in the third quarter valued at about $202,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

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.

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