Fastenal (NASDAQ:FAST) – Stock analysts at Northcoast Research issued their Q2 2019 earnings per share (EPS) estimates for shares of Fastenal in a note issued to investors on Monday, April 15th. Northcoast Research analyst T. Hayes forecasts that the company will earn $0.77 per share for the quarter. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Fastenal’s Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.65 EPS, FY2019 earnings at $2.82 EPS and FY2020 earnings at $3.00 EPS.
Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company earned $0.61 earnings per share.
NASDAQ FAST opened at $69.52 on Wednesday. Fastenal has a fifty-two week low of $47.37 and a fifty-two week high of $69.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.97 and a current ratio of 4.31. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.51 and a beta of 1.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.47%. Fastenal’s payout ratio is presently 65.40%.
In related news, insider Leland J. Hein sold 22,500 shares of Fastenal stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $63.13, for a total transaction of $1,420,425.00. Following the sale, the insider now directly owns 30,111 shares of the company’s stock, valued at $1,900,907.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas J. Lundquist sold 5,000 shares of Fastenal stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $60.51, for a total value of $302,550.00. Following the sale, the insider now directly owns 216,000 shares in the company, valued at $13,070,160. The disclosure for this sale can be found here. Insiders sold 87,083 shares of company stock worth $5,458,662 over the last quarter. 0.62% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Fastenal by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 14,725,234 shares of the company’s stock valued at $854,358,000 after purchasing an additional 158,261 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Fastenal by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,090,041 shares of the company’s stock valued at $63,244,000 after acquiring an additional 28,397 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Fastenal in the third quarter valued at approximately $13,452,000. Pacer Advisors Inc. raised its stake in shares of Fastenal by 20.8% in the third quarter. Pacer Advisors Inc. now owns 26,663 shares of the company’s stock valued at $1,547,000 after acquiring an additional 4,588 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new position in shares of Fastenal in the third quarter valued at approximately $423,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Company Profile
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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