Fastenal Company (FAST) To Go Ex-Dividend on July 28th

Fastenal Company (NASDAQ:FAST) declared a quarterly dividend on Friday, July 10th. Shareholders of record on Tuesday, July 28th will be paid a dividend of 0.26 per share on Tuesday, August 25th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, July 28th. This is a 8.3% increase from Fastenal’s previous quarterly dividend of $0.24.

Fastenal has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 26 consecutive years. Fastenal has a dividend 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. Equities analysts expect Fastenal to earn $1.38 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 75.4%.

Fastenal Trading Up 1.9%

Shares of FAST opened at $47.02 on Friday. The firm has a market capitalization of $53.96 billion, a PE ratio of 39.85, a price-to-earnings-growth ratio of 2.94 and a beta of 0.72. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. Fastenal has a 12-month low of $38.97 and a 12-month high of $50.63. The stock’s fifty day simple moving average is $45.92 and its 200-day simple moving average is $45.35.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. Fastenal’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. As a group, research analysts predict that Fastenal will post 1.25 earnings per share for the current year.

Institutional Investors Weigh In On Fastenal

Large investors have recently modified their holdings of the business. Evergreen Advisors LLC acquired a new position in Fastenal during the first quarter worth about $26,000. Palladiem LLC acquired a new stake in shares of Fastenal during the fourth quarter valued at about $25,000. Elyxium Wealth LLC acquired a new position in shares of Fastenal in the fourth quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new position in Fastenal in the 4th quarter valued at approximately $29,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Fastenal during the third quarter worth $36,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.