FY2027 EPS Estimates for Fastenal Decreased by William Blair

Fastenal Company (NASDAQ:FAST) – Research analysts at William Blair decreased their FY2027 earnings per share (EPS) estimates for Fastenal in a research report issued on Monday, October 13th. William Blair analyst R. Merkel now anticipates that the company will earn $1.34 per share for the year, down from their prior forecast of $1.35. The consensus estimate for Fastenal’s current full-year earnings is $2.15 per share.

FAST has been the topic of several other reports. Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a report on Thursday, July 3rd. Loop Capital reissued a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Stephens boosted their price objective on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Finally, Robert W. Baird decreased their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.50.

Fastenal Stock Down 1.2%

FAST stock opened at $42.24 on Wednesday. Fastenal has a 52 week low of $35.31 and a 52 week high of $50.63. The business has a 50-day simple moving average of $48.06 and a 200 day simple moving average of $43.95. The company has a quick ratio of 2.12, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company has a market cap of $48.48 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 3.89 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is 82.24%.

Insider Buying and Selling

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the transaction, the executive vice president owned 11,994 shares of the company’s stock, valued at $583,747.98. This represents a 36.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the sale, the insider directly owned 11,880 shares in the company, valued at $570,834. The trade was a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,178 shares of company stock worth $4,336,603 in the last 90 days. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Fastenal

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after purchasing an additional 75,852,223 shares during the last quarter. State Street Corp lifted its holdings in Fastenal by 99.6% during the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after buying an additional 27,107,520 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 103.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after buying an additional 23,380,022 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fastenal by 103.8% in the second quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after buying an additional 18,329,847 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Fastenal by 87.9% during the second quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after acquiring an additional 16,308,254 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

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.