Fastenal Company Announces Quarterly Dividend of $0.32 (FAST)
Fastenal Company (NASDAQ:FAST) declared a quarterly dividend on Tuesday, July 11th, RTT News reports. Shareholders of record on Wednesday, July 26th will be paid a dividend of 0.32 per share on Wednesday, August 23rd. This represents a $1.28 annualized dividend and a dividend yield of 2.94%.
Fastenal Company has increased its dividend by an average of 14.5% annually over the last three years and has raised its dividend every year for the last 6 years. Fastenal Company has a payout ratio of 68.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Fastenal Company to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 62.4%.
Shares of Fastenal Company (NASDAQ:FAST) traded down 0.39% on Tuesday, hitting $43.58. The company’s stock had a trading volume of 4,509,791 shares. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 24.90 and a beta of 0.99. Fastenal Company has a one year low of $37.70 and a one year high of $52.74. The stock has a 50-day moving average price of $43.41 and a 200 day moving average price of $47.58.
Fastenal Company (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, April 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.46. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Fastenal Company had a net margin of 12.61% and a return on equity of 26.39%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. Equities research analysts predict that Fastenal Company will post $1.88 EPS for the current year.
In related news, CFO Holden Lewis acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was purchased at an average price of $43.76 per share, with a total value of $43,760.00. Following the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $43,760. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Darren R. Jackson acquired 5,000 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were bought at an average cost of $44.75 per share, with a total value of $223,750.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,700 shares of company stock valued at $299,343 in the last ninety days. 0.55% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating on shares of Fastenal Company in a report on Tuesday. BidaskClub upgraded shares of Fastenal Company from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Fastenal Company from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Credit Suisse Group set a $52.00 price target on shares of Fastenal Company and gave the stock a “buy” rating in a report on Tuesday, June 6th. Finally, Stephens assumed coverage on shares of Fastenal Company in a report on Friday, June 2nd. They set an “overweight” rating and a $54.00 price target for the company. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $49.83.
About Fastenal Company
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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