Fastenal (NASDAQ:FAST) Releases Earnings Results, Meets Expectations

Fastenal (NASDAQ:FAST - Get Free Report) released its quarterly earnings results on Friday. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52, RTT News reports. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS.

Fastenal Trading Down 1.4 %

FAST traded down $1.14 during midday trading on Wednesday, reaching $80.51. 1,613,339 shares of the company were exchanged, compared to its average volume of 3,089,917. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The stock has a market capitalization of $46.17 billion, a P/E ratio of 40.05, a PEG ratio of 3.58 and a beta of 1.05. The stock's 50-day simple moving average is $75.85 and its 200 day simple moving average is $76.47. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, April 25th. This is an increase from Fastenal's previous quarterly dividend of $0.43. Fastenal's dividend payout ratio is currently 87.56%.

Analyst Ratings Changes

FAST has been the subject of a number of research reports. Robert W. Baird raised their target price on Fastenal from $80.00 to $86.00 and gave the company a "neutral" rating in a research note on Monday. Stephens raised their price objective on shares of Fastenal from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Tuesday. Stifel Nicolaus reduced their target price on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Wolfe Research raised shares of Fastenal from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Finally, William Blair upgraded shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $79.10.

Insider Activity at Fastenal

In related news, EVP William Joseph Drazkowski sold 15,000 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $81.31, for a total transaction of $1,219,650.00. Following the sale, the executive vice president now owns 5,997 shares of the company's stock, valued at approximately $487,616.07. This trade represents a 71.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Fastenal stock. Brighton Jones LLC acquired a new stake in Fastenal (NASDAQ:FAST - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 6,899 shares of the company's stock, valued at approximately $496,000. 81.38% of the stock is owned by 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.