Fastenal Company (NASDAQ:FAST) Plans $0.22 Quarterly Dividend

Key Points

• Fastenal Company has declared a quarterly dividend of $0.22 per share, with investors of record set to receive it on November 25th, representing a 1.9% dividend yield.
• Fastenal's current payout ratio stands at 73.3%, with analysts predicting earnings of $2.33 per share for the upcoming year, ensuring the dividend remains covered.
• The company reported a revenue of $2.08 billion for the last quarter, exceeding analyst estimates and marking an 8.6% increase compared to the same quarter last year.

Fastenal Company (NASDAQ:FAST - Get Free Report) declared a quarterly dividend on Friday, October 10th, RTT News reports. Investors of record on Tuesday, October 28th will be paid a dividend of 0.22 per share on Tuesday, November 25th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%.

Fastenal has a payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Fastenal to earn $2.33 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 37.8%.

Fastenal Trading Down 2.0%

FAST traded down $0.93 on Friday, hitting $45.78. 9,373,061 shares of the company were exchanged, compared to its average volume of 6,487,794. The firm has a fifty day simple moving average of $48.25 and a two-hundred day simple moving average of $43.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. Fastenal has a 12 month low of $35.31 and a 12 month high of $50.63. The stock has a market capitalization of $52.54 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 4.31 and a beta of 0.94.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company earned $0.25 EPS. Fastenal's revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $82.00 price objective on Fastenal in a research report on Thursday, July 3rd. Baird R W upgraded Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Northcoast Research assumed coverage on Fastenal in a research report on Thursday, August 21st. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. lifted their price objective on Fastenal from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Finally, Wolfe Research reiterated a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fastenal has an average rating of "Hold" and a consensus price target of $47.41.

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.

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