Fastenal (NASDAQ:FAST) Releases Earnings Results, Misses Expectations By $0.02 EPS

Fastenal (NASDAQ:FAST - Get Free Report) issued its earnings results on Friday. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02), Zacks reports. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1,842,560.16 billion. During the same period in the prior year, the business posted $0.46 EPS. The business's revenue was up 3.7% on a year-over-year basis.

Fastenal Stock Performance

FAST traded up $0.78 on Friday, hitting $75.55. 5,563,166 shares of the company's stock were exchanged, compared to its average volume of 3,129,073. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average of $78.23 and a two-hundred day moving average of $72.82. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The firm has a market cap of $43.28 billion, a PE ratio of 37.66, a P/E/G ratio of 3.94 and a beta of 1.02.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. This is a positive change from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.28%. Fastenal's payout ratio is 77.61%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. HSBC downgraded Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. UBS Group assumed coverage on Fastenal in a report on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 price target for the company. Hsbc Global Res lowered shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus cut shares of Fastenal from a "buy" rating to a "hold" rating and set a $86.00 target price on the stock. in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $77.27.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Rita J. Heise sold 10,888 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,553,400. This trade represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel L. Florness sold 31,818 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock worth $6,211,126 over the last ninety days. Company insiders own 0.41% of the company's stock.

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.