Fastenal (NASDAQ:FAST) declared a quarterly dividend on Tuesday, January 16th, RTT News reports. Stockholders of record on Wednesday, January 31st will be paid a dividend of 0.37 per share on Tuesday, February 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.67%. This is a boost from Fastenal’s previous quarterly dividend of $0.32.

Fastenal has increased its dividend payment by an average of 8.6% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Fastenal has a payout ratio of 66.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fastenal to earn $2.13 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 60.1%.

Shares of Fastenal (NASDAQ FAST) traded down $0.15 during midday trading on Tuesday, hitting $55.44. The stock had a trading volume of 3,766,897 shares, compared to its average volume of 2,322,339. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.45 and a current ratio of 5.36. The firm has a market cap of $15,910.00, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 1.86 and a beta of 1.09. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $56.15.

In related news, insider Gary A. Polipnick sold 2,634 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the transaction, the insider now owns 59,323 shares in the company, valued at approximately $3,170,814.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.74, for a total value of $487,400.00. Following the transaction, the insider now owns 20,258 shares of the company’s stock, valued at approximately $987,374.92. The disclosure for this sale can be found here. Insiders have sold a total of 72,746 shares of company stock valued at $3,549,219 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

FAST has been the topic of a number of research analyst reports. KeyCorp reaffirmed a “buy” rating and issued a $52.00 target price on shares of Fastenal in a report on Thursday, October 12th. Stephens set a $54.00 target price on Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, December 26th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $57.00 target price on shares of Fastenal in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Fastenal currently has a consensus rating of “Buy” and an average target price of $52.93.

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About Fastenal

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.

Dividend History for Fastenal (NASDAQ:FAST)

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