Fastenal Company (FAST) to Distribute Quarterly Dividend of $0.26 on November 25th

Fastenal Company (NASDAQ:FAST) announced a quarterly dividend on Tuesday, October 13th. Stockholders of record on Wednesday, October 28th will be given a dividend of $0.26 per share on Wednesday, November 25th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, October 28th.

Fastenal has a payout ratio of 86.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Fastenal to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 74.8%.

Fastenal Trading Up 1.1%

Shares of FAST opened at $52.00 on Thursday. The business’s 50-day moving average price is $50.37 and its 200 day moving average price is $47.46. The stock has a market capitalization of $59.67 billion, a P/E ratio of 43.58, a P/E/G ratio of 3.19 and a beta of 0.69. The company has a current ratio of 4.18, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. Fastenal has a 1-year low of $38.97 and a 1-year high of $52.92.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, October 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the business earned $0.29 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. Analysts expect that Fastenal will post 1.26 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FAST. William Blair reissued an “outperform” rating on shares of Fastenal in a research note on Friday, September 4th. Robert W. Baird set a $54.00 price objective on Fastenal in a report on Friday, August 7th. Wolfe Research started coverage on shares of Fastenal in a report on Tuesday, September 15th. They issued an “underperform” rating and a $51.00 target price on the stock. Weiss Ratings raised shares of Fastenal from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Morgan Stanley upped their price target on Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.92.

Fastenal Company Profile

Fastenal Company is a distributor of industrial and construction supplies serving businesses, contractors, manufacturers and other organizations. Its product offerings include fasteners such as bolts, nuts and screws, as well as safety equipment, tools, cutting tools, material-handling products, electrical and plumbing supplies, and maintenance and repair items.

The company sells products through a network of branch locations, onsite customer facilities, industrial vending machines and digital platforms.