A number of other brokerages also recently issued reports on FAST. Morgan Stanley reissued an “equal weight” rating and set a $46.00 price target (down previously from $50.00) on shares of Fastenal Company in a research report on Monday, June 12th. Longbow Research raised Fastenal Company from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, June 2nd. Credit Suisse Group reissued a “buy” rating and set a $52.00 price target on shares of Fastenal Company in a research report on Thursday. BidaskClub downgraded Fastenal Company from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Zacks Investment Research downgraded Fastenal Company from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $49.97.
Fastenal Company (NASDAQ:FAST) – Analysts at William Blair boosted their Q3 2017 earnings per share (EPS) estimates for Fastenal Company in a research note issued on Wednesday. William Blair analyst R. Merkel now forecasts that the company will post earnings of $0.50 per share for the quarter, up from their prior forecast of $0.48. William Blair also issued estimates for Fastenal Company’s Q4 2017 earnings at $0.44 EPS, FY2017 earnings at $1.92 EPS and FY2018 earnings at $2.06 EPS.
Shares of Fastenal Company (NASDAQ:FAST) opened at 42.88 on Friday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 23.60 and a beta of 0.99. Fastenal Company has a one year low of $37.70 and a one year high of $52.74. The stock’s 50 day moving average price is $43.41 and its 200 day moving average price is $47.58.
Fastenal Company (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, July 12th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Fastenal Company had a return on equity of 26.86% and a net margin of 12.71%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm earned $0.46 EPS. Fastenal Company’s revenue for the quarter was up 10.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, July 26th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Monday, July 24th. Fastenal Company’s dividend payout ratio is presently 70.33%.
In other Fastenal Company news, Director Darren R. Jackson bought 5,000 shares of Fastenal Company stock in a transaction on Friday, April 28th. The shares were purchased at an average price of $44.75 per share, with a total value of $223,750.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Holden Lewis bought 1,000 shares of Fastenal Company stock in a transaction on Thursday, May 25th. The stock was acquired at an average cost of $43.76 per share, for a total transaction of $43,760.00. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at approximately $43,760. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,700 shares of company stock worth $299,343. Company insiders own 0.55% of the company’s stock.
Several large investors have recently modified their holdings of FAST. HighPoint Advisor Group LLC increased its stake in shares of Fastenal Company by 43.3% in the fourth quarter. HighPoint Advisor Group LLC now owns 23,322 shares of the company’s stock worth $1,189,000 after buying an additional 7,042 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Fastenal Company during the first quarter worth $191,000. FMR LLC increased its stake in shares of Fastenal Company by 893.7% in the fourth quarter. FMR LLC now owns 1,145,853 shares of the company’s stock worth $53,832,000 after buying an additional 1,030,536 shares in the last quarter. Commerce Bank increased its stake in shares of Fastenal Company by 14.4% in the first quarter. Commerce Bank now owns 44,807 shares of the company’s stock worth $2,307,000 after buying an additional 5,634 shares in the last quarter. Finally, Pegasus Partners Ltd. increased its stake in shares of Fastenal Company by 88.8% in the fourth quarter. Pegasus Partners Ltd. now owns 64,480 shares of the company’s stock worth $3,029,000 after buying an additional 30,324 shares in the last quarter. 82.32% of the stock is currently owned by hedge funds and other institutional investors.
About Fastenal Company
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.