Fastenal (NASDAQ:FAST) announced its earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01), RTT News reports. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the business posted $0.37 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year.

Shares of Fastenal stock traded down $0.89 during trading on Thursday, reaching $30.36. The company’s stock had a trading volume of 16,637,719 shares, compared to its average volume of 4,733,400. The company has a quick ratio of 1.97, a current ratio of 4.31 and a debt-to-equity ratio of 0.20. Fastenal has a 12-month low of $24.00 and a 12-month high of $35.94. The firm has a market capitalization of $18.07 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.42 and a beta of 1.25. The business’s 50 day simple moving average is $31.79.

Several research analysts have weighed in on FAST shares. Northcoast Research downgraded Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Morgan Stanley downgraded GasLog Partners LP Unit from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $23.00 to $18.00 in a research note on Tuesday, April 16th. Buckingham Research set a $31.00 price target on Fastenal and gave the company a “neutral” rating in a research note on Friday, June 14th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, William Blair restated a “market perform” rating on shares of Luminex in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.11.

In other Fastenal news, Director Willard D. Oberton sold 25,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $70.85, for a total transaction of $1,771,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas J. Lundquist sold 37,500 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $70.48, for a total value of $2,643,000.00. Following the sale, the insider now owns 253,500 shares in the company, valued at $17,866,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,470 shares of company stock worth $11,485,007. Company insiders own 0.62% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of FAST. Berman Capital Advisors LLC purchased a new stake in Fastenal during the fourth quarter worth $26,000. Investors Research Corp purchased a new stake in Fastenal during the first quarter worth $26,000. Strategy Asset Managers LLC purchased a new stake in Fastenal during the first quarter worth $32,000. Trustcore Financial Services LLC purchased a new stake in Fastenal during the first quarter worth $43,000. Finally, Bremer Bank National Association purchased a new stake in Fastenal during the first quarter worth $53,000. Institutional investors own 85.36% of the company’s stock.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Earnings History for Fastenal (NASDAQ:FAST)

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