Fastenal (NASDAQ:FAST) Posts Quarterly Earnings Results
Fastenal (NASDAQ:FAST) reported quarterly earnings of $0.52 per share, matching analysts' expectations. The company achieved a revenue of $1.96 billion, slightly above the consensus estimate of $1.94 billion, marking a 3.4% year-over-year increase. Fastenal also declared a quarterly dividend of $0.44, up from $0.43, with a yield of 2.32%. Analysts have mixed ratings on the stock, with an average rating of "Hold" and a price target of $76.91. Fastenal's market capitalization stands at $43.46 billion, with a PE ratio of 37.71.
Fastenal (NASDAQ:FAST - Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.52 earnings per share for the quarter, meeting analysts' consensus estimates of $0.52, RTT News reports. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis.
Fastenal Stock Performance
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FAST opened at $75.79 on Friday. The firm has a market capitalization of $43.46 billion, a PE ratio of 37.71, a PEG ratio of 3.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The business's 50-day simple moving average is $75.41 and its 200 day simple moving average is $76.26.
Fastenal Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be paid a $0.44 dividend. This is a positive change from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a yield of 2.32%. Fastenal's payout ratio is presently 85.57%.
Hedge Funds Weigh In On Fastenal
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A hedge fund recently bought a new stake in Fastenal stock. Brighton Jones LLC purchased a new position in shares of Fastenal (NASDAQ:FAST - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,899 shares of the company's stock, valued at approximately $496,000. Institutional investors own 81.38% of the company's stock.
Wall Street Analyst Weigh In
FAST has been the topic of several analyst reports. Wolfe Research raised Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus cut their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Finally, William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $76.91.
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Read Our Latest Stock Report on FAST
About Fastenal
(Get Free Report)Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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