Fastenal Co. (NASDAQ:FAST) – Analysts at Northcoast Research lowered their FY2016 earnings estimates for Fastenal in a research note issued on Wednesday. Northcoast Research analyst T. Hayes now forecasts that the firm will post earnings of $1.70 per share for the year, down from their previous forecast of $1.72. Northcoast Research also issued estimates for Fastenal’s Q4 2016 earnings at $0.37 EPS, Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.46 EPS, Q4 2017 earnings at $0.40 EPS and FY2017 earnings at $1.81 EPS.
Other analysts have also recently issued reports about the company. Wells Fargo & Co. reissued a “hold” rating on shares of Fastenal in a report on Sunday, September 4th. Zacks Investment Research cut Fastenal from a “hold” rating to a “sell” rating in a report on Friday. Argus cut Fastenal from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Fastenal in a report on Thursday. Finally, BMO Capital Markets set a $45.00 price objective on Fastenal and gave the stock a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $47.15.
Fastenal (NASDAQ:FAST) opened at 38.34 on Thursday. The stock has a market capitalization of $11.08 billion, a PE ratio of 21.91 and a beta of 0.99. The stock’s 50 day moving average price is $41.29 and its 200-day moving average price is $43.99. Fastenal has a 12-month low of $35.10 and a 12-month high of $49.99.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $1.01 billion for the quarter. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS.
A number of large investors have recently bought and sold shares of the stock. Capital Fund Management S.A. purchased a new stake in Fastenal during the second quarter worth about $17,477,000. Compass Capital Management Inc. increased its stake in Fastenal by 4.4% in the second quarter. Compass Capital Management Inc. now owns 446,778 shares of the company’s stock worth $19,832,000 after buying an additional 18,880 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in Fastenal during the first quarter worth about $249,000. HL Financial Services LLC increased its stake in Fastenal by 3.2% in the second quarter. HL Financial Services LLC now owns 1,683,802 shares of the company’s stock worth $74,744,000 after buying an additional 52,626 shares during the period. Finally, Confluence Investment Management LLC increased its stake in Fastenal by 10.8% in the second quarter. Confluence Investment Management LLC now owns 1,153,843 shares of the company’s stock worth $51,219,000 after buying an additional 112,215 shares during the period. 82.12% of the stock is owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, October 21st. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.
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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