Fastenal (FAST) Expected to Announce Quarterly Sales of $1.16 Billion

Analysts predict that Fastenal (NASDAQ:FAST) will announce sales of $1.16 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Fastenal’s earnings. The lowest sales estimate is $1.14 billion and the highest is $1.19 billion. Fastenal posted sales of $1.05 billion in the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The company is scheduled to report its next earnings report on Wednesday, April 11th.

On average, analysts expect that Fastenal will report full year sales of $1.16 billion for the current financial year, with estimates ranging from $4.71 billion to $4.90 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.18 billion per share, with estimates ranging from $5.05 billion to $5.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Fastenal.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis.

Several brokerages recently issued reports on FAST. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group restated an “outperform” rating and set a $61.00 price objective (up from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. BMO Capital Markets restated a “hold” rating and set a $57.00 price objective on shares of Fastenal in a research note on Tuesday, January 9th. Stifel Nicolaus restated a “hold” rating and set a $51.00 price objective on shares of Fastenal in a research note on Monday, December 11th. Finally, Stephens increased their target price on Fastenal from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.29.

Shares of Fastenal (NASDAQ:FAST) traded up $1.08 on Friday, reaching $54.65. The company had a trading volume of 2,536,424 shares, compared to its average volume of 3,274,385. Fastenal has a 52-week low of $39.79 and a 52-week high of $57.81. The company has a market capitalization of $15,600.00, a PE ratio of 25.90, a PEG ratio of 1.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 30th. Fastenal’s dividend payout ratio (DPR) is 70.14%.

In other news, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the transaction, the insider now directly owns 26,250 shares of the company’s stock, valued at $1,483,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The disclosure for this sale can be found here. Insiders have sold 78,884 shares of company stock worth $4,059,512 over the last three months. Corporate insiders own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new position in Fastenal during the fourth quarter worth about $104,000. Exane Derivatives acquired a new position in Fastenal during the fourth quarter worth about $110,000. Fuller & Thaler Asset Management Inc. acquired a new position in Fastenal during the third quarter worth about $114,000. SeaCrest Wealth Management LLC acquired a new position in Fastenal during the fourth quarter worth about $115,000. Finally, Cable Hill Partners LLC acquired a new position in Fastenal during the third quarter worth about $126,000. 84.23% of the stock is currently owned by institutional investors.

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About Fastenal

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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