Fastenal said on April 12, 2023 that its board of directors declared a regular quarterly dividend of $0.35 per share ($1.40 annualized). Previously, the company paid $0.35 per share.
Shares must be purchased before the ex-div date of April 26, 2023 to qualify for the dividend. Shareholders of record as of April 27, 2023 will receive the payment on May 25, 2023.
At the current share price of $52.56 / share, the stock's dividend yield is 2.66%. Looking back five years and taking a sample every week, the average dividend yield has been 2.48%, the lowest has been 1.75%, and the highest has been 3.55%. The standard deviation of yields is 0.35 (n=237).
The current dividend yield is 0.52 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.72. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.40%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1760 funds or institutions reporting positions in Fastenal.
This is an increase
of
28
owner(s) or 1.62% in the last quarter.
Average portfolio weight of all funds dedicated to FAST is 0.25%,
a decrease
of 17.30%.
Total shares owned by institutions increased
in the last three months by 1.73% to 501,382K shares.
The put/call ratio of FAST is 0.94, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 0.97% Upside
As of April 6, 2023, the average one-year price target for Fastenal is $53.07. The forecasts range from a low of $46.46 to a high of $64.05. The average price target represents an increase of 0.97% from its latest reported closing price of $52.56.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fastenal is $7,336MM, an increase of 2.81%. The projected annual non-GAAP EPS is $1.97.
What are Other Shareholders Doing?
MYSPX - MainStay MacKay S&P 500 Index Fund Investor Class holds 19K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 19K shares, representing a decrease of 1.47%. The firm decreased its portfolio allocation in FAST by 1.02% over the last quarter.
Mutual of America Variable Insurance Portfolios, Inc. - Equity Index Portfolio Class holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in FAST by 3.85% over the last quarter.
RMQHX - Monthly Rebalance NASDAQ-100 2x Strategy Fund Class H holds 10K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 13K shares, representing a decrease of 37.24%. The firm decreased its portfolio allocation in FAST by 2.51% over the last quarter.
Livforsakringsbolaget Skandia, Omsesidigt holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.
State Of Michigan Retirement System holds 278K shares representing 0.05% ownership of the company. In it's prior filing, the firm reported owning 274K shares, representing an increase of 1.44%. The firm decreased its portfolio allocation in FAST by 99.90% over the last quarter.
Fastenal Background Information
(This description is provided by the company.)
Fastenal helps customers simplify and realize product and process savings across their supply chain. It sells a broad oCering of products spanning more than nine major product lines - from fasteners and tools to safety and janitorial supplies. These products are eciently distributed to manufacturing facilities, job sites, and other customer locations through local service teams and point-of-use inventory solutions, including industrial vending technology and bin stock programs (Fastenal Managed Inventory or FMI®). Its distribution system centers on over 3,200 in-market locations (a combination of public branches and customer-speci c Onsite locations), primarily in North America but also in Asia, Europe, and Central and South America, each providing tailored inventory, exible service, and custom solutions to drive the unique goals of local customers. These in-market servicing locations are supported by Vfteen regional distribution centers, a captive logistics Deet, robust sourcing, quality and manufacturing resources, and multiple teams of industry specialists and support personnel - all working toward Fastenal's common goal of Growth Through Customer Service®.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
