Twin Tree Management LP Purchases 9,328 Shares of Fastenal (NASDAQ:FAST)

Twin Tree Management LP increased its position in Fastenal (NASDAQ:FAST) by 9.1% during the fourth quarter, Holdings Channel reports. The firm owned 111,955 shares of the company’s stock after buying an additional 9,328 shares during the quarter. Twin Tree Management LP’s holdings in Fastenal were worth $8,051,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Knuff & Co LLC bought a new position in Fastenal during the third quarter worth $27,000. OFI Invest Asset Management acquired a new stake in shares of Fastenal during the 4th quarter worth about $46,000. Whipplewood Advisors LLC bought a new stake in shares of Fastenal during the 4th quarter worth about $49,000. SBI Securities Co. Ltd. acquired a new position in Fastenal in the 4th quarter valued at about $49,000. Finally, R Squared Ltd bought a new position in Fastenal in the 4th quarter valued at about $68,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Up 1.1 %

NASDAQ FAST opened at $76.07 on Tuesday. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The business has a fifty day moving average price of $74.82 and a two-hundred day moving average price of $75.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The stock has a market capitalization of $43.62 billion, a PE ratio of 37.85, a PEG ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share. Equities analysts expect that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio is currently 85.57%.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of research analyst reports. Wolfe Research boosted their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Jefferies Financial Group boosted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus lowered their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.