Fastenal (NASDAQ:FAST) declared a quarterly dividend on Wednesday, July 10th, NASDAQ reports. Shareholders of record on Thursday, July 25th will be given a dividend of 0.22 per share on Thursday, August 22nd. This represents a $0.88 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, July 24th.
Fastenal has raised its dividend payment by an average of 11.2% annually over the last three years and has raised its dividend every year for the last 8 years. Fastenal has a payout ratio of 67.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fastenal to earn $1.52 per share next year, which means the company may not be able to cover its $1.72 annual dividend with an expected future payout ratio of 113.2%.
NASDAQ FAST opened at $30.36 on Friday. Fastenal has a fifty-two week low of $24.00 and a fifty-two week high of $35.94. The company’s 50-day moving average is $31.79. The company has a current ratio of 4.31, a quick ratio of 1.97 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $17.88 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 1.38 and a beta of 1.25.
Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, July 11th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. Fastenal’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. On average, analysts forecast that Fastenal will post 1.41 earnings per share for the current fiscal year.
In other Fastenal news, insider Leland J. Hein sold 19,929 shares of Fastenal stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $70.37, for a total transaction of $1,402,403.73. Following the sale, the insider now directly owns 14,931 shares of the company’s stock, valued at $1,050,694.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas J. Lundquist sold 37,500 shares of Fastenal stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $70.48, for a total value of $2,643,000.00. Following the sale, the insider now directly owns 253,500 shares in the company, valued at $17,866,680. The disclosure for this sale can be found here. Insiders have sold 163,470 shares of company stock worth $11,485,007 over the last ninety days. Company insiders own 0.56% of the company’s stock.
Several equities analysts recently issued reports on the company. Raymond James set a $39.00 price target on Fastenal and gave the company a “buy” rating in a research note on Tuesday, June 11th. Northcoast Research lowered Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. BidaskClub upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Buckingham Research set a $31.00 price target on Fastenal and gave the company a “neutral” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.11.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
Recommended Story: Recession
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.