Marshall Wace LLP Purchases 737,833 Shares of Fastenal (NASDAQ:FAST)

Marshall Wace LLP lifted its position in shares of Fastenal (NASDAQ:FAST) by 4,008.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 756,241 shares of the company’s stock after buying an additional 737,833 shares during the quarter. Marshall Wace LLP owned approximately 0.13% of Fastenal worth $47,522,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Central Valley Advisors LLC bought a new position in shares of Fastenal in the second quarter worth about $28,000. MCF Advisors LLC boosted its stake in Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the period. Triad Wealth Partners LLC bought a new position in Fastenal in the 2nd quarter worth approximately $32,000. Crewe Advisors LLC raised its position in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Fastenal in the second quarter worth $35,000. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In other news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley started coverage on shares of Fastenal in a research note on Friday, September 6th. They set an “equal weight” rating and a $72.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price (down from $85.00) on shares of Fastenal in a report on Monday, July 15th. Stephens reiterated an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Finally, Jefferies Financial Group cut their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.43.

Fastenal Trading Down 1.5 %

Shares of FAST stock opened at $70.71 on Thursday. The company has a market cap of $40.49 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 3.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The stock’s 50 day simple moving average is $68.18 and its two-hundred day simple moving average is $68.35. Fastenal has a 1 year low of $53.94 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $0.52 earnings per share. Fastenal’s revenue was up 1.8% on a year-over-year basis. Research analysts predict that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 annualized dividend and a yield of 2.21%. Fastenal’s payout ratio is 77.61%.

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.