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

Fastenal Company (NASDAQ:FAST) announced a quarterly dividend on Friday, July 10th. Investors of record on Tuesday, July 28th will be given a dividend of 0.26 per share on Tuesday, August 25th. This represents a c) annualized dividend and a 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 raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 26 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 fall. Research 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 stock opened at $47.02 on Friday. Fastenal has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a market cap 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. The business’s 50 day moving average is $45.92 and its two-hundred day moving average is $45.35.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data 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 analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. Equities analysts predict that Fastenal will post 1.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FAST. State Street Corp grew its position in Fastenal by 1.2% during the fourth quarter. State Street Corp now owns 54,734,674 shares of the company’s stock worth $2,196,502,000 after buying an additional 631,889 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fastenal by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock valued at $1,898,031,000 after acquiring an additional 919,158 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fastenal by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock valued at $1,508,216,000 after acquiring an additional 685,047 shares in the last quarter. Invesco Ltd. lifted its position in shares of Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after acquiring an additional 2,242,116 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Fastenal by 12.0% in the 1st quarter. Bank of America Corp DE now owns 16,292,425 shares of the company’s stock worth $755,969,000 after acquiring an additional 1,744,193 shares during the period. Institutional investors 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.