Fastenal Company (FAST) reported quarterly earnings results on Tuesday, Jul-12-2016. The company reported $0.46 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $0.48. The company posted revenue of $1014.30 million in the period, compared to analysts expectations of $1023.17 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
Many Wall Street Analysts have commented on Fastenal Company. Morgan Stanley Initiated Fastenal Company on Jul 7, 2016 to “Equal-Weight”, Price Target of the shares are set at $46.Fastenal Company was Resumed by Credit Suisse to “Neutral” on Jun 17, 2016.
Fastenal Company opened for trading at $45.45 and hit $45.825 on the upside on Monday, eventually ending the session at $45.36, with a gain of 0.29% or 0.13 points. The heightened volatility saw the trading volume jump to 40,08,346 shares. Company has a market cap of $13,104 M.
In a different news, on Mar 3, 2016, Sheryl Ann Lisowski (Interim CFO/CAO/Controller) sold 5,000 shares at $46.69 per share price. According to the SEC, on Mar 3, 2016, James C Jansen (Executive Vice President) sold 25,000 shares at $46.50 per share price. On Mar 1, 2016, Daniel L Florness (CEO and President) sold 80,000 shares at $45.17 per share price, according to the Form-4 filing with the securities and exchange commission.
Fastenal Company sells industrial and construction supplies to end-users (business-to-business) and also has some walk-in retail business. The Company’s product offerings include fasteners and other industrial and construction supplies many of which are sold under the Fastenal product name. The Company’s product line which it refers to as the fastener product line consists of two categories: threaded fasteners such as bolts nuts screws studs and related washers and miscellaneous supplies and hardware such as various pins and machinery keys concrete anchors metal framing systems wire rope strut rivets and related accessories. The Company’s product line includes fasteners cutting tools tools hydraulics and pneumatics material handling janitorial supplies electrical supplies welding supplies safety supplies metals direct ship and office supplies. It operates approximately 14 distribution centers in North America.