This S&P 500 Stock Is a Genius Buy for Dividend Growth
With a $30 billion market cap, it isn't too surprising to find industrial stock (NASDAQ: FAST) in the S 500 index, even though it probably isn't a household name. But given its impressive dividend growth record, it should be a top-of-mind option for income-oriented investors.
Here's why now is a pretty good time to consider adding this vital supplier to your portfolio.
At its core, Fastenal sells little things that get used a lot by its industrial customers. The list is fairly wide, ranging from, as its name suggests, fasteners to tools. From this perspective, the company is pretty boring and easy to understand. But on top of this, management has layered a high-tech business model that turned Fastenal from a parts supplier into a vital partner.
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 65.1 € for Fastenal Co., so the potential is actually -0.15%.
