Fastenal (NASDAQ:FAST) – Investment analysts at Northcoast Research issued their Q1 2020 earnings estimates for shares of Fastenal in a research note issued to investors on Monday, April 15th. Northcoast Research analyst T. Hayes anticipates that the company will earn $0.72 per share for the quarter. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Fastenal’s Q2 2020 earnings at $0.80 EPS, Q3 2020 earnings at $0.78 EPS and Q4 2020 earnings at $0.70 EPS.
FAST has been the subject of several other reports. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Wednesday, January 23rd. Jefferies Financial Group started coverage on Fastenal in a research report on Monday, January 7th. They issued a “hold” rating and a $60.00 price objective for the company. Raymond James set a $78.00 price objective on Fastenal and gave the company a “buy” rating in a research report on Friday. BidaskClub upgraded Fastenal from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 24th. Finally, Morgan Stanley started coverage on Fastenal in a research report on Tuesday, December 18th. They issued an “equal weight” rating and a $55.00 price objective for the company. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Fastenal presently has a consensus rating of “Hold” and a consensus target price of $60.90.
Fastenal stock opened at $68.77 on Tuesday. The stock has a market cap of $19.95 billion, a PE ratio of 26.15, a P/E/G ratio of 1.53 and a beta of 1.17. Fastenal has a 1 year low of $47.37 and a 1 year high of $69.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97.
Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same period in the previous year, the company earned $0.61 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Palisade Asset Management LLC lifted its stake in Fastenal by 1.0% in the 4th quarter. Palisade Asset Management LLC now owns 30,038 shares of the company’s stock valued at $1,571,000 after acquiring an additional 300 shares in the last quarter. DNB Asset Management AS lifted its stake in Fastenal by 14.9% in the 4th quarter. DNB Asset Management AS now owns 53,980 shares of the company’s stock valued at $2,823,000 after acquiring an additional 7,012 shares in the last quarter. Trust Co. of Virginia VA lifted its stake in Fastenal by 4.8% in the 4th quarter. Trust Co. of Virginia VA now owns 106,810 shares of the company’s stock valued at $5,585,000 after acquiring an additional 4,884 shares in the last quarter. Green Square Capital LLC lifted its stake in Fastenal by 9.1% in the 4th quarter. Green Square Capital LLC now owns 131,767 shares of the company’s stock valued at $6,890,000 after acquiring an additional 10,940 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Fastenal by 7.9% in the 4th quarter. Northern Trust Corp now owns 3,660,888 shares of the company’s stock valued at $191,427,000 after acquiring an additional 267,997 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.
In other Fastenal news, CAO Sheryl Ann Lisowski sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $62.50, for a total value of $625,000.00. Following the sale, the chief accounting officer now owns 10,300 shares in the company, valued at approximately $643,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Lewis Soderberg sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $63.00, for a total value of $472,500.00. Following the completion of the sale, the executive vice president now owns 7,500 shares in the company, valued at approximately $472,500. The disclosure for this sale can be found here. Insiders sold a total of 87,083 shares of company stock valued at $5,458,662 over the last quarter. 0.62% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th will be given a $0.43 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $1.72 annualized dividend and a dividend yield of 2.50%. Fastenal’s dividend payout ratio is presently 65.40%.
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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