Fastenal (NASDAQ:FAST) to Issue Quarterly Dividend of $0.22

Fastenal (NASDAQ:FAST) declared a quarterly dividend on Thursday, October 10th, Zacks reports. Shareholders of record on Friday, October 25th will be paid a dividend of 0.22 per share on Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, October 24th.

Shares of NASDAQ:FAST opened at $37.00 on Tuesday. Fastenal has a 1 year low of $24.00 and a 1 year high of $36.96. The business has a 50 day simple moving average of $32.77 and a two-hundred day simple moving average of $40.51. The firm has a market capitalization of $20.55 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.62 and a beta of 1.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.51 and a quick ratio of 2.06.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, October 11th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Fastenal had a return on equity of 32.03% and a net margin of 14.77%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts expect that Fastenal will post 1.38 EPS for the current fiscal year.

In other Fastenal news, CAO Sheryl Ann Lisowski sold 5,615 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.50, for a total transaction of $188,102.50. Following the completion of the sale, the chief accounting officer now owns 10,382 shares in the company, valued at $347,797. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Daniel L. Florness sold 40,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $36.00, for a total value of $1,440,000.00. Following the sale, the chief executive officer now owns 239,690 shares of the company’s stock, valued at approximately $8,628,840. The disclosure for this sale can be found here. Insiders sold 54,365 shares of company stock valued at $1,937,415 in the last quarter. 0.62% of the stock is owned by company insiders.

FAST has been the subject of several recent analyst reports. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday, October 5th. Raymond James lowered Fastenal from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 14th. Robert W. Baird boosted their target price on Fastenal from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Stephens lowered Fastenal from an “overweight” rating to an “equal” rating and boosted their price target for the company from $36.00 to $37.00 in a report on Monday, October 14th. Finally, Buckingham Research boosted their price target on Fastenal from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Fastenal has a consensus rating of “Hold” and a consensus target price of $34.55.

Fastenal Company Profile

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.

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Dividend History for Fastenal (NASDAQ:FAST)

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