Research Analysts Set Expectations for Fastenal’s Q2 2024 Earnings (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) – Investment analysts at Zacks Research lowered their Q2 2024 earnings estimates for shares of Fastenal in a research report issued on Monday, April 22nd. Zacks Research analyst S. Mukherjee now anticipates that the company will post earnings per share of $0.54 for the quarter, down from their previous estimate of $0.56. The consensus estimate for Fastenal’s current full-year earnings is $2.13 per share. Zacks Research also issued estimates for Fastenal’s Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $2.12 EPS, Q1 2025 earnings at $0.55 EPS, Q2 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $2.27 EPS, Q1 2026 earnings at $0.58 EPS and FY2026 earnings at $2.42 EPS.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share.

FAST has been the subject of a number of other research reports. Stifel Nicolaus raised their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. HSBC upped their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Loop Capital dropped their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Finally, Robert W. Baird decreased their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.67.

Fastenal Trading Up 0.1 %

Shares of Fastenal stock opened at $67.51 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The business has a fifty day simple moving average of $73.54 and a two-hundred day simple moving average of $66.63. Fastenal has a 1 year low of $52.28 and a 1 year high of $79.04. The company has a market capitalization of $38.65 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 3.53 and a beta of 1.05.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.31%. Fastenal’s dividend payout ratio is currently 77.23%.

Insider Activity at Fastenal

In other news, insider Jeffery Michael Watts sold 19,420 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares of the company’s stock, valued at $417,285. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jeffery Michael Watts sold 19,420 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the transaction, the insider now directly owns 5,940 shares in the company, valued at approximately $417,285. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders have sold 48,050 shares of company stock valued at $3,411,049 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Fastenal

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hartford Financial Management Inc. lifted its holdings in shares of Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the period. MCF Advisors LLC raised its holdings in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Fastenal in the 4th quarter valued at $35,000. Criterion Capital Advisors LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $43,000. Finally, First Horizon Advisors Inc. raised its stake in Fastenal by 283.2% during the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock worth $49,000 after buying an additional 558 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Company Profile

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.