Here's Why Fastenal Is a No-Brainer Dividend Growth Stock
Investors looking for a mixture of growth and income should take a look at industrial-focused (NASDAQ: FAST). It's not a household name, but it has an incredible dividend record. And here's the best part: It looks at least reasonably priced today. Paying a fair price for a great company like this can work out very well over time. Here are some charts and tables to highlight the opportunity.
Fastenal has increased its dividend annually for around a quarter of a century. Over the past decade, the average annualized dividend increase was a very robust 12%. But rapid dividend growth has actually been a fairly consistent pattern. To get a good idea of just how powerful that is, take a look at the graph below, which looks at dividend growth from the start of 2000 to the current dividend rate of $0.35 per share per quarter.
Source Fool.com
Fastenal Co. Stock
Currently there is a rather positive sentiment for Fastenal Co. with 5 Buy predictions and 0 Sell predictions.
On the other hand, the target price of 65 € is below the current price of 65.49 € for Fastenal Co., so the potential is actually -0.75%.
