The Fastenal Co. (FAST) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

The Fastenal Co. (FAST) Announces Quarterly  Earnings Results, Misses Estimates By $0.01 EPS

Fastenal Co. (NASDAQ:FAST) issued its earnings results on Tuesday. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.01. The firm earned $1.01 billion during the quarter. Fastenal had a return on equity of 27.83% and a net margin of 12.91%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share.

Shares of Fastenal (NASDAQ:FAST) opened at 39.06 on Thursday. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 22.32 and a beta of 0.99. The company’s 50-day moving average is $41.60 and its 200 day moving average is $44.10. Fastenal has a 12 month low of $35.10 and a 12 month high of $49.99.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.20 annualized dividend and a yield of 3.07%. Fastenal’s dividend payout ratio (DPR) is 68.57%.

Several brokerages have issued reports on FAST. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Fastenal in a report on Sunday, September 4th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.00 target price on shares of Fastenal in a report on Wednesday, July 13th. Zacks Investment Research lowered shares of Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. Credit Suisse Group AG reiterated a “neutral” rating and issued a $43.00 price target on shares of Fastenal in a research note on Friday, June 17th. Finally, Macquarie assumed coverage on shares of Fastenal in a research note on Thursday, August 25th. They issued a “neutral” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. Fastenal presently has an average rating of “Hold” and a consensus target price of $47.44.

A number of institutional investors have recently added to or reduced their stakes in the stock. FineMark National Bank & Trust increased its position in Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock valued at $152,000 after buying an additional 20 shares in the last quarter. Strategic Advisors LLC increased its position in Fastenal by 0.4% in the second quarter. Strategic Advisors LLC now owns 13,304 shares of the company’s stock valued at $591,000 after buying an additional 47 shares in the last quarter. Raymond James Trust N.A. increased its position in Fastenal by 0.3% in the third quarter. Raymond James Trust N.A. now owns 16,934 shares of the company’s stock valued at $708,000 after buying an additional 48 shares in the last quarter. Washington Trust Bank increased its position in Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its position in Fastenal by 0.5% in the second quarter. First Allied Advisory Services Inc. now owns 14,726 shares of the company’s stock valued at $652,000 after buying an additional 79 shares in the last quarter. 82.12% of the stock is owned by institutional investors.

Fastenal Company Profile

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