Zacks Research Decreases Earnings Estimates for Fastenal

Fastenal (NASDAQ:FAST - Free Report) - Equities researchers at Zacks Research cut their FY2024 earnings per share (EPS) estimates for Fastenal in a report issued on Tuesday, October 29th. Zacks Research analyst S. Mukherjee now forecasts that the company will post earnings of $2.04 per share for the year, down from their prior forecast of $2.05. The consensus estimate for Fastenal's current full-year earnings is $2.03 per share. Zacks Research also issued estimates for Fastenal's Q4 2024 earnings at $0.49 EPS, Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.56 EPS, FY2025 earnings at $2.17 EPS, Q1 2026 earnings at $0.57 EPS, Q3 2026 earnings at $0.60 EPS and FY2026 earnings at $2.35 EPS.

A number of other equities analysts also recently commented on FAST. Jefferies Financial Group reduced their price objective on Fastenal from $74.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, July 11th. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a "buy" rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Morgan Stanley lifted their price objective on Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. Finally, Robert W. Baird lifted their target price on Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $73.33.

Fastenal Trading Down 0.2 %

Fastenal stock traded down $0.16 during trading on Thursday, reaching $78.18. 4,002,995 shares of the company were exchanged, compared to its average volume of 3,333,780. Fastenal has a 52-week low of $58.04 and a 52-week high of $79.04. The company has a market capitalization of $44.76 billion, a P/E ratio of 38.90, a PEG ratio of 4.48 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The stock's 50 day simple moving average is $71.74 and its two-hundred day simple moving average is $68.18.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The business's revenue was up 3.5% on a year-over-year basis.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 2.00%. Fastenal's dividend payout ratio is presently 77.61%.

Insider Buying and Selling

In related news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,261 shares of company stock valued at $13,874,979. Corporate insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On Fastenal

Large investors have recently bought and sold shares of the stock. Central Valley Advisors LLC purchased a new stake in Fastenal during the 2nd quarter worth about $28,000. Triad Wealth Partners LLC purchased a new position in shares of Fastenal in the 2nd quarter valued at about $32,000. Crewe Advisors LLC increased its holdings in shares of Fastenal by 528.4% in the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company's stock valued at $32,000 after acquiring an additional 428 shares during the last quarter. Moisand Fitzgerald Tamayo LLC increased its holdings in shares of Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock valued at $34,000 after acquiring an additional 428 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Fastenal in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 81.38% 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.