Fastenal (NASDAQ:FAST) – Equities research analysts at William Blair lowered their Q4 2019 earnings estimates for shares of Fastenal in a research report issued to clients and investors on Thursday, December 5th. William Blair analyst R. Merkel now anticipates that the company will post earnings of $0.31 per share for the quarter, down from their prior forecast of $0.32.
Several other brokerages have also recently commented on FAST. Zacks Investment Research cut Fastenal from a “hold” rating to a “sell” rating and set a $38.00 target price on the stock. in a report on Monday, October 14th. Cleveland Research reiterated a “hold” rating on shares of Fastenal in a research report on Tuesday, September 24th. BidaskClub downgraded shares of Fastenal from a “hold” rating to a “sell” rating in a research report on Wednesday. Morgan Stanley increased their price objective on shares of Fastenal from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Stephens cut shares of Fastenal from an “overweight” rating to an “equal” rating and raised their price objective for the company from $36.00 to $37.00 in a research report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Fastenal presently has an average rating of “Hold” and an average target price of $73.44.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Fastenal had a return on equity of 32.03% and a net margin of 14.77%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company earned $0.34 EPS. Fastenal’s revenue for the quarter was up 7.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were paid a $0.22 dividend. The ex-dividend date was Thursday, October 24th. This represents a $0.88 annualized dividend and a dividend yield of 2.45%. Fastenal’s dividend payout ratio (DPR) is currently 66.67%.
In related news, EVP Charles S. Miller sold 4,376 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $35.98, for a total value of $157,448.48. Following the transaction, the executive vice president now owns 11,876 shares in the company, valued at $427,298.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 5,615 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.50, for a total value of $188,102.50. Following the completion of the transaction, the chief accounting officer now owns 10,382 shares in the company, valued at approximately $347,797. The disclosure for this sale can be found here. Insiders sold a total of 195,985 shares of company stock valued at $7,167,824 over the last three months. Insiders own 0.62% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Advisors Preferred LLC bought a new stake in shares of Fastenal during the second quarter worth approximately $26,000. Wealthcare Advisory Partners LLC boosted its position in shares of Fastenal by 101.2% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock worth $27,000 after purchasing an additional 424 shares during the last quarter. FTB Advisors Inc. bought a new position in shares of Fastenal in the 2nd quarter worth $29,000. Bedel Financial Consulting Inc. boosted its position in shares of Fastenal by 100.0% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 972 shares of the company’s stock worth $32,000 after purchasing an additional 486 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Fastenal during the second quarter worth $32,000. Institutional investors own 84.09% 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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