Fastenal Co. (FAST) Announces Quarterly Dividend of $0.30
Fastenal Co. (NASDAQ:FAST) declared a quarterly dividend on Monday, October 10th. Investors of record on Tuesday, October 25th will be given a dividend of 0.30 per share on Tuesday, November 22nd. This represents a $1.20 annualized dividend and a yield of 2.85%.
Fastenal (NASDAQ:FAST) traded down 0.43% during trading on Monday, reaching $42.12. The company had a trading volume of 4,891,091 shares. The company has a 50-day moving average of $41.91 and a 200-day moving average of $44.29. The firm has a market capitalization of $12.17 billion, a P/E ratio of 24.07 and a beta of 0.99. Fastenal has a 52-week low of $35.10 and a 52-week high of $49.99.
Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, July 12th. The company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.03. Fastenal had a net margin of 12.91% and a return on equity of 27.83%. The company earned $1.01 billion during the quarter. During the same period in the prior year, the firm posted $0.48 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts expect that Fastenal will post $1.74 EPS for the current fiscal year.
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A number of brokerages have commented on FAST. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Morgan Stanley began coverage on Fastenal in a research note on Thursday, July 7th. They issued an “equal weight” rating and a $46.00 target price for the company. BMO Capital Markets restated a “market perform” rating and issued a $47.00 target price on shares of Fastenal in a research note on Wednesday, July 13th. Macquarie began coverage on Fastenal in a research note on Thursday, August 25th. They issued a “neutral” rating and a $50.00 target price for the company. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the stock. Fastenal has a consensus rating of “Hold” and an average target price of $47.44.
A number of large investors have recently added to or reduced their stakes in FAST. First Allied Advisory Services Inc. increased its stake in Fastenal by 0.5% in the second quarter. First Allied Advisory Services Inc. now owns 14,726 shares of the company’s stock worth $652,000 after buying an additional 79 shares during the period. Pacer Advisors Inc. increased its stake in Fastenal by 1.2% in the second quarter. Pacer Advisors Inc. now owns 8,676 shares of the company’s stock worth $385,000 after buying an additional 103 shares during the period. Cleararc Capital Inc. increased its stake in Fastenal by 2.7% in the second quarter. Cleararc Capital Inc. now owns 7,434 shares of the company’s stock worth $330,000 after buying an additional 193 shares during the period. Advantus Capital Management Inc increased its stake in Fastenal by 0.8% in the second quarter. Advantus Capital Management Inc now owns 28,145 shares of the company’s stock worth $1,249,000 after buying an additional 220 shares during the period. Finally, Bank of Nova Scotia increased its stake in Fastenal by 6.1% in the second quarter. Bank of Nova Scotia now owns 5,746 shares of the company’s stock worth $255,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 82.12% of the company’s stock.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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