Two Sigma Investments LP Has $9.30 Million Stock Holdings in Fastenal (NASDAQ:FAST)

Posted by Defense World Staff on Mar 14th, 2023

Two Sigma Investments LP lessened its position in shares of Fastenal (NASDAQ:FAST – Get Rating) by 17.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,956 shares of the company’s stock after selling 41,612 shares during the quarter. Two Sigma Investments LP’s holdings in Fastenal were worth $9,298,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Roundview Capital LLC lifted its stake in Fastenal by 0.6% in the first quarter. Roundview Capital LLC now owns 85,339 shares of the company’s stock valued at $5,069,000 after buying an additional 479 shares during the period. Vontobel Holding Ltd. lifted its stake in Fastenal by 55.3% in the first quarter. Vontobel Holding Ltd. now owns 19,099 shares of the company’s stock valued at $1,140,000 after buying an additional 6,797 shares during the period. Sei Investments Co. lifted its stake in Fastenal by 18.1% in the first quarter. Sei Investments Co. now owns 239,760 shares of the company’s stock valued at $14,218,000 after buying an additional 36,709 shares during the period. Cetera Investment Advisers increased its holdings in shares of Fastenal by 24.6% in the first quarter. Cetera Investment Advisers now owns 26,251 shares of the company’s stock worth $1,559,000 after acquiring an additional 5,190 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Fastenal by 9.0% in the first quarter. Moors & Cabot Inc. now owns 9,534 shares of the company’s stock worth $566,000 after acquiring an additional 786 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

Fastenal Stock Up 0.3 %

NASDAQ:FAST opened at $51.70 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.79 and a current ratio of 3.96. The company has a market cap of $29.52 billion, a PE ratio of 27.21, a PEG ratio of 2.95 and a beta of 1.19. Fastenal has a 52-week low of $43.73 and a 52-week high of $60.74. The stock has a 50-day simple moving average of $50.92 and a 200 day simple moving average of $49.62.

Fastenal (NASDAQ:FAST – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. Fastenal had a return on equity of 34.38% and a net margin of 15.57%. Fastenal’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, sell-side analysts expect that Fastenal will post 1.94 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Thursday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.71%. This is an increase from Fastenal’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, February 1st. Fastenal’s dividend payout ratio (DPR) is currently 73.68%.

Wall Street Analysts Forecast Growth

FAST has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Fastenal from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Friday, January 6th. Loop Capital lowered their price target on Fastenal from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.14.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Terry Modock Owen sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $53.24, for a total value of $798,600.00. Following the completion of the transaction, the vice president now directly owns 7,000 shares in the company, valued at $372,680. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.45% of the company’s stock.

Fastenal Profile

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Fastenal Co engages in the distribution of fasteners and tools. It also operates hardware stores. The company was founded by Robert A. Kierlin, Michael M. Gostomski, Henry K. McCannon, John D. Remick, and Stephen M. Slaggie in November 1967 and is headquartered in Winona, MN.