Here's Why Fastenal Is a No-Brainer Dividend Growth Stock
In some ways, (NASDAQ: FAST) is an incredibly boring industrial company. In other ways, it's quite exciting. However you view it, though, there's one thing it has done for investors amazingly well: grow its dividend. Over the past decade, for example, the payout has increased at an annual rate of 14%. That's huge, but here are some more reasons to like this no-brainer dividend growth stock.
Fastenal sells fasteners and other small parts and tools that industrial companies use to build their products. It is not a sexy business, but it is a reliable one since there's a near-constant need to replace used items.
For a long time, the company operated stores, which it still does, but it has been increasingly integrating into the businesses it serves. That can take the form of regular deliveries to a manufacturing site or even vending machines that a customer's employees use.
Source Fool.com
Fastenal Co. Stock
Our community is currently high on Fastenal Co. with 5 Buy predictions and 0 Sell predictions.
As a result the target price of 65 € shows a slightly positive potential of 5.23% compared to the current price of 61.77 € for Fastenal Co..
