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    1. The Nuts and Bolts of Fastenal's Attractive Dividend

      Video Reports

      Fri, 24 Apr 2015

      picked up some shares of [TICKER:FAST] Fastenal (FAST). We're going to talk about ..... not be familiar with [TICKER:FAST] Fastenal , can you give us a little bit of background ..... interacting in this field. [TICKER:FAST] Fastenal : The name actually refers to fasteners

      Fastenal found at 0:12, 0:54, 2:08

      our director of equity-income strategy. He recently picked up some shares of [TICKER:FAST] Fastenal (FAST). We're going to talk about what attracted him to the stock. Josh, thanks for joining me. Josh Peters: Thanks for having me here, Jeremy. Glaser : So, for investors who might not be familiar with [TICKER:FAST] Fastenal , can you give us a little bit of background about the firm? Peters: Sure. It is an industrial distributor into what's called
      manufacturers, and other commercial customers--contractors and whatnot--that are interacting in this field. [TICKER:FAST] Fastenal : The name actually refers to fasteners, literally nuts and bolts and things like that. That's how the business got its start. That's
      of thousands of customers and thousands of vendors for individual products. And [TICKER:FAST] Fastenal , as the middleman, can actually make for a very efficient relationship connecting the vendor or manufacturer to the person who is ultimately going to use it. And that, in turn, has enabled them to earn very good profit margins and returns on capital. And with high returns on capital, as the business grows, it doesn't have to put quite as much back [into the business] in order to expand. So, [TICKER:FAST] Fastenal , even as it is continuing to grow, is generating a fair amount of free cash flow, converting about 60% of earnings to free cash flow. The other 40% goes back into support of the low-double-digit rate of growth. Now, with that other free cash flow, what really makes [TICKER:FAST] Fastenal distinctive is that they've chosen to make the dividend the primary means of returning cash to shareholders. The vast majority of companies that are out there, frankly--whether they are fast growing or not--really prefer to emphasize share repurchases. But [TICKER:FAST] Fastenal , instead, has made the dividend the top priority. They do some buybacks, but mostly just to offset shares issued through employee plans.
    2. The Nuts and Bolts of Industrial Distributor Moats

      Headlines

      Wed, 15 Apr 2015

      systems--MSC Industrial, Grainger, and Fastenal --to expand their wallet share at vending ..... recommendations on their production processes. Fastenal stocks almost 600,000 kinds of fasteners ..... extensive networks of stores, most notably Fastenal . Stores provide a convenient point to

    3. Fastenal Conquers Macroeconomic Revenue Headwinds With Solid Expense and Productivity Management

      Commentary

      Tue, 14 Apr 2015

      We are increasing Fastenal ’s fair value estimate to $47 from ..... slowdown in sales has no impact on Fastenal ’s competitive advantage, and ..... period in response to slowing demand. Fastenal ’s approach to free cash flow deployment

    4. Anixter Sells OEM Supply-Fasteners Segment

      Commentary

      Thu, 12 Feb 2015

      product cost is composed of delivery logistics and packaging. Companies that succeed in distributing these products, like Fastenal , can earn 20% operating margins. In Anixter’s case, the business only generated a 3%-4% operating margin. The

    5. Fastenal Reports Fourth-Quarter Earnings and Positive Operating Margin Outlook

      Commentary

      Thu, 15 Jan 2015

      We expect to maintain Fastenal ’s $46 fair value estimate and ..... salesforce. While we like the momentum in Fastenal ’s business and the potential for ..... with the latest earnings report, Fastenal raised its quarterly dividend 12

    6. Fastenal Announces New CEO; Maintaining Our Wide Moat Rating and Fair Value Estimate

      Commentary

      Fri, 7 Nov 2014

      2015, Leland Hein will take over as Fastenal 's chief executive officer. Current ..... replacement as a surprise. Hein has been Fastenal 's president since July 2012, and this ..... indicator that the individual will lead the Fastenal organization. Fastenal 's new leadership

    7. Fastenal Reports Third-Quarter Results; New Employees Are Accelerating Company Profit Growth

      Commentary

      Fri, 10 Oct 2014

      We are maintaining Fastenal ’s wide moat rating and $45 fair ..... 40 share price before we would view Fastenal as undervalued, with a 4-star ..... dramatic operating margin improvement. Fastenal ’s report demonstrates that it can

    8. What Today’s Bond Prices Suggest About What Lies Ahead for Stocks

      Headlines

      Tue, 2 Sep 2014

      Full Analyst Report: Cimarex Energy Fastenal FAST Business Risk: Below Average Economic ..... Consider Selling: $82.70 or Above Fastenal has leveraged its vast product selection ..... through its 2,000-plus stores, Fastenal provides far more selection and convenience

    9. 2 Wide-Moat Companies That Deliver the Goods

      Video Reports

      Thu, 31 Jul 2014

      highlight Grainger and [TICKER:FAST] Fastenal , two wide moat-rated industrial distribution ..... suppliers. Grainger and [TICKER:FAST] Fastenal have both been beneficiaries of this ..... they use Grainger or [TICKER:FAST] Fastenal . Currently, both stocks have a 3-star

      Fastenal found at 0:06, 0:43, 1:19

      Kwame Webb: Today, I'd like to highlight Grainger and [TICKER:FAST] Fastenal , two wide moat-rated industrial distribution companies. Industrial distributors are similar to general merchandise stores, except they sell exclusively to businesses and manufacturers.
      industrial distributor than to maintain relationships with thousands of suppliers. Grainger and [TICKER:FAST] Fastenal have both been beneficiaries of this secular trend. As we think about these companies, they enjoy two moat sources, the first of
      realized that they don't need a salesforce; instead, they use Grainger or [TICKER:FAST] Fastenal . Currently, both stocks have a 3-star rating [from the Morningstar Rating for stocks]. However, Grainger trades at the larger discount to our
    10. Fastenal's Revenue Acceleration Continues, but Gross Margins Will Be Pressured in the Near-Term

      Commentary

      Fri, 11 Jul 2014

      Fastenal 's second-quarter results demonstrated ..... customers and narrower margins. While Fastenal typically targets, a 51%-53% gross ..... value estimate unchanged. We believe Fastenal 's long-term competitive position remains

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