Twin Tree Management LP Has $8.05 Million Stock Position in Fastenal (NASDAQ:FAST)

Twin Tree Management LP increased its position in shares of Fastenal (NASDAQ:FAST) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,955 shares of the company’s stock after acquiring an additional 9,328 shares during the quarter. Twin Tree Management LP’s holdings in Fastenal were worth $8,051,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FAST. Natixis Advisors LLC boosted its stake in shares of Fastenal by 21.7% in the 3rd quarter. Natixis Advisors LLC now owns 205,720 shares of the company’s stock valued at $14,693,000 after purchasing an additional 36,673 shares during the last quarter. TrinityPoint Wealth LLC grew its holdings in Fastenal by 2.3% during the 3rd quarter. TrinityPoint Wealth LLC now owns 12,113 shares of the company’s stock worth $865,000 after acquiring an additional 274 shares during the period. Quest Partners LLC raised its position in shares of Fastenal by 412.8% during the 3rd quarter. Quest Partners LLC now owns 33,941 shares of the company’s stock valued at $2,424,000 after acquiring an additional 27,322 shares during the last quarter. Drive Wealth Management LLC lifted its stake in shares of Fastenal by 5.8% in the 3rd quarter. Drive Wealth Management LLC now owns 4,857 shares of the company’s stock valued at $347,000 after purchasing an additional 267 shares during the period. Finally, Meeder Advisory Services Inc. boosted its position in shares of Fastenal by 3.8% in the 3rd quarter. Meeder Advisory Services Inc. now owns 13,145 shares of the company’s stock worth $939,000 after purchasing an additional 487 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of Fastenal stock opened at $76.07 on Tuesday. 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 firm has a market cap of $43.62 billion, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The stock’s 50-day moving average is $74.82 and its 200-day moving average is $75.41. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. Equities analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

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

Wall Street Analyst Weigh In

FAST has been the subject of a number of recent analyst reports. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Stifel Nicolaus cut their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Jefferies Financial Group increased their target price on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.91.

About Fastenal

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.