Fastenal (NASDAQ:FAST) – KeyCorp upped their Q4 2018 earnings per share (EPS) estimates for shares of Fastenal in a research note issued to investors on Thursday, April 12th. KeyCorp analyst S. Barger now forecasts that the company will earn $0.58 per share for the quarter, up from their prior forecast of $0.57. KeyCorp currently has a “Buy” rating on the stock.
FAST has been the subject of several other research reports. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Thursday, January 4th. BMO Capital Markets reiterated a “hold” rating and issued a $57.00 target price on shares of Fastenal in a report on Monday, April 9th. Robert W. Baird reiterated a “buy” rating and issued a $57.00 target price on shares of Fastenal in a report on Tuesday, March 6th. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 target price (up previously from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. Finally, Northcoast Research set a $60.00 target price on shares of Fastenal and gave the company a “buy” rating in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $54.07.
Shares of FAST stock opened at $50.53 on Monday. The stock has a market capitalization of $14,407.37, a PE ratio of 26.18, a PEG ratio of 1.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.11 and a quick ratio of 2.30. Fastenal has a one year low of $39.79 and a one year high of $58.74.
Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, April 11th. The company reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 23rd. Investors of record on Wednesday, April 25th will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, April 24th. This represents a $1.48 dividend on an annualized basis and a yield of 2.93%. Fastenal’s dividend payout ratio (DPR) is presently 76.68%.
In related news, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the sale, the insider now owns 26,250 shares in the company, valued at $1,483,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Joseph Drazkowski sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total transaction of $424,800.00. Following the sale, the insider now owns 9,460 shares of the company’s stock, valued at approximately $535,814.40. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its position in Fastenal by 6.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,833 shares of the company’s stock worth $921,000 after purchasing an additional 1,023 shares during the period. Suntrust Banks Inc. boosted its position in Fastenal by 10.7% during the fourth quarter. Suntrust Banks Inc. now owns 10,807 shares of the company’s stock worth $589,000 after purchasing an additional 1,048 shares during the period. Cullinan Associates Inc. boosted its position in Fastenal by 0.9% during the fourth quarter. Cullinan Associates Inc. now owns 116,001 shares of the company’s stock worth $6,344,000 after purchasing an additional 1,050 shares during the period. YHB Investment Advisors Inc. boosted its position in Fastenal by 3.4% during the fourth quarter. YHB Investment Advisors Inc. now owns 35,815 shares of the company’s stock worth $1,959,000 after purchasing an additional 1,187 shares during the period. Finally, Reik & CO. LLC boosted its position in Fastenal by 17.2% during the fourth quarter. Reik & CO. LLC now owns 8,190 shares of the company’s stock worth $448,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.
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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