Maintenance and repair product distributor Fastenal (FAST) is having a strong year despite the bearish pressure that's squeezed the broad market in 2011. Year-to-date, shares have climbed 12.5% -- Fastenal's dividend payout notwithstanding. That dividend is on the rise right now; management increased their payout to shareholders by 7.69% this week, ratcheting its quarterly dividend up to 13 cents per share.
Fastenal's core business comes in providing a massive catalog of maintenance, repair, and construction products to companies worldwide. At its core is the firm's namesake fastener business, which currently boasts more than 400,000 products; fittingly, fasteners make up more than half of the firm's sales. Competition is high for firms' maintenance and repair dollars, and Fastenal's geographic footprint is its biggest weapon to combat customer attrition. With more than 2,400 physical locations, Fastenal is best able to quickly fulfill orders and keep customers loyal.With no debt on its balance sheet and more than $115 in cash and investments on hand, Fastenal's financial health is excellent. The firm's recent dividend hike equates to a 1.54% yield at current levels. Fastenal, one of TheStreet Ratings' top-rated supplier and distributor stocks, was also featured recently in " 5 Stocks Set to Soar off Bullish Earnings."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV