Fastenal (FAST) Stock

Fastenal has a solid history of increasing dividends for 25 years in a row, along with consistent growth in revenue and earnings. However, the shares are currently overpriced, trading at almost 36 times the expected earnings for 2024, which is higher than usual and could limit returns. I recommend holding onto Fastenal for now and waiting for the price to drop to my target range of 28 to 30 times earnings before considering buying.

FAST's daily sales have been rising each year, supported by positive trends in the overall Manufacturing sector.

This Industry Outlook article features The Home Depot, Lowe's, Fastenal, Beacon Roofing Supply, and Tecnoglass.

In October, FAST's average daily sales growth rate slowed down compared to previous months. While there was progress in heavy manufacturing markets, there were also drops in non-residential markets.

Fastenal's FAST stock has risen over 250% since 2016, thanks to an increase in customers, more Onsite locations, better service, and improved business performance. This upward trend in stock prices may keep going as these factors continue to produce positive results.

Examine how Fastenal's (FAST) international revenue has been performing and its impact on financial analysts' forecasts on Wall Street, as well as the future outlook for the stock.

Fastenal announced Q3 earnings that exceeded expectations, leading to a 10% increase in its stock price. Since it started, the company has seen a return of over 51,000%, which is nearly a 20% compound annual growth rate. Earlier this year, Fastenal became a dividend champion, but investors should keep an eye on the increasing payout ratio.

Fastenal's stock, listed on NASDAQ as FAST, has risen over 250% since 2016, thanks to an increase in customers, more Onsite locations, better service, and improved business performance. This upward trend in stock prices may keep going as these factors continue to produce positive results.

On Friday, Fastenal (FAST) had the highest share gains in the S&P 500 after the company, which produces fasteners and other industrial products, announced a rise in revenue despite sales being affected by Hurricane Helene.