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

Twin Tree Management LP grew its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Knuff & Co LLC bought a new stake in Fastenal during the 3rd quarter worth approximately $27,000. OFI Invest Asset Management purchased a new position in shares of Fastenal during the fourth quarter valued at approximately $46,000. Whipplewood Advisors LLC bought a new stake in Fastenal during the fourth quarter worth $49,000. SBI Securities Co. Ltd. purchased a new stake in Fastenal in the 4th quarter valued at $49,000. Finally, R Squared Ltd bought a new position in Fastenal during the 4th quarter valued at $68,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

FAST traded down $0.78 during trading on Friday, reaching $74.73. 8,781,375 shares of the company were exchanged, compared to its average volume of 2,930,427. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The company's 50-day moving average is $75.02 and its two-hundred day moving average is $75.47. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 37.18, a P/E/G ratio of 3.58 and a beta of 1.05.

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

Fastenal Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.30%. This is a boost from Fastenal's previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. Fastenal's payout ratio is presently 85.57%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wolfe Research increased their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. Stifel Nicolaus dropped their target price 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. Hsbc Global Res downgraded Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Jefferies Financial Group increased their price target on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Finally, William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $76.91.

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.