Fastenal (FAST) Joins Wolfe Research Favorites List on Manufacturing Recovery Play

Fastenal Company (NASDAQ:FAST) is included among the Dividend Kings and Aristocrats List: 32 Biggest Stocks.

Fastenal (FAST) Joins Wolfe Research Favorites List on Manufacturing Recovery Play

Fastenal Company (NASDAQ:FAST) was added to Wolfe Research’s favorites list, according to a CNBC report published on March 16. The report noted that the stock has been outperforming, rising over 12% so far this year. It also offers a 2.11% dividend yield. The company is often seen as a play on a recovery in US manufacturing. It has also been expanding its footprint.

Fastenal recently said it will begin construction on a new 900,000 square-foot operations and logistics hub in Carrollton, Georgia. Its fourth-quarter earnings came in line with expectations, though revenue missed estimates. More recently, the company reported February net sales growth of 13.3%, up from 12% growth in January. It is scheduled to report first-quarter results on April 13.

On March 14, Fastenal confirmed plans to build a new Southeast US regional operations and logistics center in Carrollton. The groundbreaking ceremony is set for March 24 at the Old Airport Road Development site.

Fastenal Company (NASDAQ:FAST) operates as a wholesale distributor of industrial and construction supplies. Its product range includes fasteners such as bolts, nuts, screws, studs, and washers, along with other related hardware and supplies.

While we acknowledge the risk and potential of FAST as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FAST and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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