Fastenal (FAST) Earns News Impact Rating of 0.11
Press coverage about Fastenal (NASDAQ:FAST) has been trending somewhat positive recently, according to Accern. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Fastenal earned a news impact score of 0.11 on Accern’s scale. Accern also gave media stories about the company an impact score of 45.6637995359987 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- Shares Seesawing on Volume: Fastenal Co (FAST) – FLBC News (flbcnews.com)
- Zooming in on Trading Indicators for Fastenal Co (FAST – Wall Street Review (thewallstreetreview.com)
- Can Fastenal Co (FAST) Thread the Needle? Technical Update – FLBC News (flbcnews.com)
- Are You FAST Enough To Grab This One? (seekingalpha.com)
- Contrasting NOW (DNOW) & Fastenal (FAST) (americanbankingnews.com)
Fastenal (NASDAQ:FAST) traded down 0.45% during trading on Friday, hitting $42.48. 1,791,828 shares of the stock traded hands. Fastenal has a 12 month low of $37.70 and a 12 month high of $52.74. The firm has a market cap of $12.23 billion, a PE ratio of 23.38 and a beta of 0.98. The firm has a 50-day moving average price of $42.53 and a 200 day moving average price of $45.65.
Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, July 12th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Fastenal had a net margin of 12.71% and a return on equity of 26.86%. Fastenal’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. On average, equities analysts forecast that Fastenal will post $1.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, July 26th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, July 24th. This represents a $1.28 annualized dividend and a yield of 3.01%. Fastenal’s dividend payout ratio (DPR) is 70.33%.
Fastenal announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 11th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several research firms have weighed in on FAST. BidaskClub cut Fastenal from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $46.00 price objective on shares of Fastenal in a research report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $46.00 price objective on shares of Fastenal in a research report on Monday, August 21st. Northcoast Research reaffirmed a “buy” rating on shares of Fastenal in a research report on Friday, August 4th. Finally, Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Fastenal currently has an average rating of “Buy” and an average target price of $49.84.
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In other Fastenal news, Director Michael John Dolan sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $43.01, for a total value of $344,080.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Holden Lewis bought 1,000 shares of the stock in a transaction on Monday, July 17th. The stock was purchased at an average price of $42.51 per share, with a total value of $42,510.00. Following the completion of the purchase, the chief financial officer now owns 2,000 shares of the company’s stock, valued at $85,020. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,400 shares of company stock valued at $142,960. 0.55% of the stock is owned by insiders.
Fastenal Company Profile
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.
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