Mariner LLC Has $54.01 Million Stake in Fastenal (NASDAQ:FAST)

Mariner LLC reduced its holdings in Fastenal (NASDAQ:FAST) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 751,130 shares of the company’s stock after selling 3,235 shares during the period. Mariner LLC owned approximately 0.13% of Fastenal worth $54,014,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MML Investors Services LLC increased its holdings in Fastenal by 7.9% in the third quarter. MML Investors Services LLC now owns 28,421 shares of the company’s stock valued at $2,030,000 after purchasing an additional 2,089 shares during the last quarter. SkyView Investment Advisors LLC raised its position in shares of Fastenal by 6.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,170 shares of the company’s stock valued at $298,000 after acquiring an additional 270 shares during the period. Anchor Investment Management LLC boosted its stake in Fastenal by 56.0% during the 3rd quarter. Anchor Investment Management LLC now owns 3,999 shares of the company’s stock worth $286,000 after acquiring an additional 1,435 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in Fastenal by 5.4% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,412 shares of the company’s stock valued at $458,000 after purchasing an additional 327 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Fastenal in the third quarter valued at approximately $2,038,000. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Up 0.8 %

Fastenal stock opened at $81.30 on Tuesday. The company has a fifty day simple moving average of $75.71 and a 200 day simple moving average of $76.43. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The company has a market cap of $46.62 billion, a P/E ratio of 40.45, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Research analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 25th. This is a boost from Fastenal’s previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a dividend yield of 2.16%. Fastenal’s dividend payout ratio (DPR) is currently 87.56%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FAST. Robert W. Baird boosted their price target on shares of Fastenal from $80.00 to $86.00 and gave the company a “neutral” rating in a report on Monday. William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, 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 note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.45.

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.