Fastenal Co. (NASDAQ:FAST) – Stock analysts at KeyCorp dropped their FY2016 EPS estimates for shares of Fastenal in a note issued to investors on Tuesday. KeyCorp analyst R. Cieslak now expects that the firm will post earnings of $1.71 per share for the year, down from their previous estimate of $1.72. KeyCorp also issued estimates for Fastenal’s Q4 2016 earnings at $0.38 EPS and FY2017 earnings at $1.77 EPS.
A number of other equities research analysts have also recently issued reports on the stock. Credit Suisse Group AG reiterated a “neutral” rating and set a $43.00 target price on shares of Fastenal in a research report on Friday, June 17th. Morgan Stanley assumed coverage on shares of Fastenal in a research report on Thursday, July 7th. They set an “equal weight” rating and a $46.00 target price for the company. BMO Capital Markets reiterated a “market perform” rating and set a $47.00 target price on shares of Fastenal in a research report on Wednesday, July 13th. Zacks Investment Research cut shares of Fastenal from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 14th. Finally, Macquarie assumed coverage on shares of Fastenal in a research report on Thursday, August 25th. They set a “neutral” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company’s stock. Fastenal presently has a consensus rating of “Hold” and an average price target of $47.44.
Fastenal (NASDAQ:FAST) traded down 2.84% during mid-day trading on Thursday, reaching $37.95. 2,812,689 shares of the company traded hands. The stock’s 50-day moving average price is $41.60 and its 200-day moving average price is $44.10. Fastenal has a one year low of $35.10 and a one year high of $49.99. The firm has a market cap of $10.97 billion, a PE ratio of 21.69 and a beta of 0.99.
Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, October 11th. The company reported $0.44 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 business had revenue of $1.01 billion for the quarter. During the same period in the previous year, the company posted $0.47 earnings per share. Fastenal’s revenue was up 1.8% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. Fastenal’s payout ratio is presently 69.77%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Fastenal by 5.2% in the second quarter. Vanguard Group Inc. now owns 27,835,227 shares of the company’s stock valued at $1,235,606,000 after buying an additional 1,371,768 shares during the last quarter. State Street Corp increased its position in Fastenal by 0.7% in the first quarter. State Street Corp now owns 11,052,593 shares of the company’s stock valued at $541,583,000 after buying an additional 78,990 shares in the last quarter. Polen Capital Management LLC increased its position in Fastenal by 11.9% in the second quarter. Polen Capital Management LLC now owns 7,163,432 shares of the company’s stock valued at $317,985,000 after buying an additional 764,398 shares in the last quarter. BlackRock Fund Advisors increased its position in Fastenal by 5.4% in the second quarter. BlackRock Fund Advisors now owns 4,721,920 shares of the company’s stock valued at $209,606,000 after buying an additional 243,947 shares in the last quarter. Finally, Route One Investment Company L.P. increased its position in Fastenal by 9.3% in the second quarter. Route One Investment Company L.P. now owns 3,838,962 shares of the company’s stock valued at $170,412,000 after buying an additional 327,655 shares in the last quarter. 82.12% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Fastenal Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal Co. and related companies with MarketBeat.com's FREE daily email newsletter.