Marshall Wace LLP Takes $31.51 Million Position in Fastenal (NASDAQ:FAST)

Marshall Wace LLP purchased a new position in shares of Fastenal (NASDAQ:FAST - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 438,240 shares of the company's stock, valued at approximately $31,514,000. Marshall Wace LLP owned approximately 0.08% of Fastenal at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FAST. OFI Invest Asset Management acquired a new position in shares of Fastenal in the 4th quarter worth approximately $46,000. Whipplewood Advisors LLC acquired a new position in Fastenal during the 4th quarter worth $49,000. SBI Securities Co. Ltd. acquired a new position in Fastenal during the 4th quarter worth $49,000. R Squared Ltd acquired a new position in Fastenal during the 4th quarter worth $68,000. Finally, Eastern Bank lifted its holdings in Fastenal by 440.7% during the 4th quarter. Eastern Bank now owns 984 shares of the company's stock worth $71,000 after buying an additional 802 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 15,000 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the completion of the transaction, the executive vice president now owns 5,997 shares in the company, valued at approximately $487,616.07. This represents a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

Fastenal Price Performance

FAST traded up $1.75 during trading on Thursday, reaching $81.94. The stock had a trading volume of 951,674 shares, compared to its average volume of 3,082,276. The stock has a market cap of $47.00 billion, a PE ratio of 40.77, a PEG ratio of 3.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a one year low of $61.36 and a one year high of $84.88. The business has a 50-day moving average of $76.66 and a 200-day moving average of $76.84.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period last year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a $0.44 dividend. This is a positive change from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, April 25th. Fastenal's dividend payout ratio (DPR) is currently 87.56%.

Analyst Ratings Changes

A number of equities research analysts recently commented on FAST shares. William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. Stifel Nicolaus cut their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Wolfe Research upgraded Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stephens increased their price objective on shares of Fastenal from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 15th. Finally, Robert W. Baird lifted their target price on Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $79.10.

Fastenal Company 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.