Fastenal Plans Quarterly Dividend of $0.39 (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) declared a quarterly dividend on Wednesday, April 10th, RTT News reports. Shareholders of record on Thursday, April 25th will be paid a dividend of 0.39 per share on Thursday, May 23rd. This represents a $1.56 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, April 24th.

Fastenal has increased its dividend by an average of 11.9% annually over the last three years and has raised its dividend every year for the last 25 years. Fastenal has a dividend payout ratio of 67.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Fastenal to earn $2.31 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 67.5%.

Fastenal Price Performance

Shares of FAST opened at $67.57 on Monday. Fastenal has a 52-week low of $52.28 and a 52-week high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The business’s 50 day moving average price is $73.62 and its two-hundred day moving average price is $66.46. The firm has a market cap of $38.69 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm posted $0.52 earnings per share. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Fastenal will post 2.13 EPS for the current year.

Insider Transactions at Fastenal

In other news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Daniel L. Johnson purchased 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffery Michael Watts sold 19,420 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the sale, the insider now owns 5,940 shares of the company’s stock, valued at approximately $417,285. The disclosure for this sale can be found here. Insiders have sold 48,050 shares of company stock valued at $3,411,049 over the last ninety days. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fastenal

Several institutional investors have recently bought and sold shares of the stock. Quarry LP grew its holdings in Fastenal by 62.3% during the fourth quarter. Quarry LP now owns 409 shares of the company’s stock worth $26,000 after buying an additional 157 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Fastenal by 0.4% in the 4th quarter. 1832 Asset Management L.P. now owns 48,972 shares of the company’s stock valued at $2,317,000 after purchasing an additional 195 shares during the period. Penserra Capital Management LLC grew its stake in Fastenal by 7.6% in the 1st quarter. Penserra Capital Management LLC now owns 2,767 shares of the company’s stock valued at $164,000 after purchasing an additional 196 shares during the period. Buckingham Strategic Wealth LLC grew its stake in Fastenal by 1.2% in the 4th quarter. Buckingham Strategic Wealth LLC now owns 18,750 shares of the company’s stock valued at $1,214,000 after purchasing an additional 222 shares during the period. Finally, Castleview Partners LLC grew its stake in Fastenal by 6.8% in the 2nd quarter. Castleview Partners LLC now owns 3,716 shares of the company’s stock valued at $219,000 after purchasing an additional 236 shares during the period. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. HSBC boosted their price target on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Loop Capital lowered their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus upped their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Robert W. Baird lowered their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average target price of $67.67.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.