Fastenal Co. (NASDAQ:FAST) – Equities researchers at KeyCorp lowered their FY2016 earnings per share (EPS) estimates for shares of Fastenal in a research note issued on Tuesday. KeyCorp analyst R. Cieslak now anticipates that the brokerage will post earnings per share of $1.71 for the year, down from their previous forecast of $1.72. KeyCorp also issued estimates for Fastenal’s Q4 2016 earnings at $0.38 EPS and FY2017 earnings at $1.77 EPS.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.01. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm earned $1.01 billion during the quarter. During the same period last year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year.
FAST has been the subject of a number of other research reports. Zacks Investment Research raised shares of Fastenal from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Morgan Stanley began coverage on shares of Fastenal in a report on Thursday, July 7th. They set an “equal weight” rating and a $46.00 price target for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $47.00 price target on shares of Fastenal in a report on Wednesday, July 13th. Macquarie initiated coverage on shares of Fastenal in a research note on Thursday, August 25th. They issued a “neutral” rating and a $50.00 price objective for the company. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.15.
Fastenal (NASDAQ:FAST) opened at 38.34 on Thursday. Fastenal has a one year low of $35.10 and a one year high of $49.99. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 21.91 and a beta of 0.99. The stock has a 50 day moving average of $41.29 and a 200 day moving average of $43.99.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, October 21st. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.
Large investors have recently bought and sold shares of the company. Advisor Consultant Network Inc. purchased a new stake in Fastenal during the third quarter valued at $418,000. Integrated Investment Consultants LLC boosted its stake in Fastenal by 1.1% in the third quarter. Integrated Investment Consultants LLC now owns 7,515 shares of the company’s stock worth $288,000 after buying an additional 80 shares during the last quarter. National Pension Service boosted its stake in Fastenal by 9.3% in the third quarter. National Pension Service now owns 216,335 shares of the company’s stock worth $9,038,000 after buying an additional 18,476 shares during the last quarter. MSI Financial Services Inc boosted its stake in Fastenal by 34.7% in the third quarter. MSI Financial Services Inc now owns 5,820 shares of the company’s stock worth $243,000 after buying an additional 1,500 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in Fastenal by 11.9% in the third quarter. Capstone Asset Management Co. now owns 56,221 shares of the company’s stock worth $2,349,000 after buying an additional 5,980 shares during the last quarter. Institutional investors own 82.12% of the company’s stock.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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