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Fastenal Q1 Profit Rises 25%, Matching View (FAST)

By Dividend.com,  April 12, 2012, 08:31:13 AM EDT

Construction supplies maker Fastenal Company ( FAST ) on Thursday posted a sharp uptick in first quarter earnings, as results met Wall Street expectations.

The Winona, MN-based company reported first quarter net income of $100.2 million, or 34 cents per share, compared with $79.5 million, or 27 cents per share, in the year-ago period.

Revenue rose 20% from last year to $768.9 million.

On average, Wall Street analysts expected a matching profit of 34 cents per share, on slightly lower revenue of $764.7 million.

Fastenal shares fell 36 cents, or -0.7%, in premarket trading Thursday.

The Bottom Line
Shares of Fastenal Company ( FAST ) have a 1.37% dividend yield, based on last night's closing stock price of $49.63. The stock has technical support in the $45 price area. The stock is trading near all-time highs of $55 a share.

Fastenal Company ( FAST ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: FAST



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