Fastenal (NASDAQ:FAST) Issues Quarterly Earnings Results

Fastenal (NASDAQ:FAST - Get Free Report) issued its earnings results on Monday. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01, RTT News reports. Fastenal had a return on equity of 31.99% and a net margin of 15.13%. During the same quarter in the prior year, the business posted $0.25 EPS.

Fastenal Price Performance

Shares of Fastenal stock opened at $43.27 on Monday. The stock's 50-day simple moving average is $41.50 and its 200-day simple moving average is $39.19. Fastenal has a 52 week low of $32.04 and a 52 week high of $45.48. The company has a market capitalization of $49.64 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 4.01 and a beta of 0.96. The company has a quick ratio of 2.14, a current ratio of 4.28 and a debt-to-equity ratio of 0.03.

Fastenal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.03%. Fastenal's payout ratio is 88.00%.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of research reports. Morgan Stanley set a $40.00 price target on Fastenal and gave the stock an "equal weight" rating in a research note on Thursday, July 3rd. Stephens restated an "equal weight" rating on shares of Fastenal in a research note on Thursday, July 3rd. Loop Capital raised their price target on Fastenal from $40.00 to $45.00 and gave the stock a "hold" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on Fastenal from $36.00 to $38.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Finally, Stifel Nicolaus set a $82.00 target price on Fastenal in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $48.45.

Insiders Place Their Bets

In related news, Director Scott Satterlee sold 19,340 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $39.76, for a total value of $768,861.70. Following the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,987,750. The trade was a 27.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony Paul Broersma sold 11,136 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $40.60, for a total value of $452,065.92. The disclosure for this sale can be found here. Insiders have sold 163,200 shares of company stock valued at $6,675,975 over the last three months. Insiders own 0.37% of the company's stock.

Institutional Investors Weigh In On Fastenal

A hedge fund recently bought a new stake in Fastenal stock. Brighton Jones LLC acquired a new stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,899 shares of the company's stock, valued at approximately $496,000. 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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