Fastenal Company (NASDAQ:FAST) Declares Dividend Increase – $0.26 Per Share

Fastenal Company (NASDAQ:FAST) announced a quarterly dividend on Friday, July 10th. Stockholders 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 dividend yield of 2.2%. The ex-dividend date is Tuesday, July 28th. This is a 8.3% increase from Fastenal’s previous quarterly dividend of $0.24.

Fastenal has raised its dividend payment 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Price Performance

FAST stock opened at $47.02 on Friday. Fastenal has a one year low of $38.97 and a one year high of $50.63. The company’s fifty day moving average price is $45.92 and its 200-day moving average price is $45.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18. The company 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.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The company 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 quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. On average, equities analysts anticipate that Fastenal will post 1.25 EPS for the current fiscal year.

About Fastenal

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.