iA Global Asset Management Inc. Sells 73,691 Shares of Fastenal (NASDAQ:FAST)

iA Global Asset Management Inc. decreased its position in Fastenal (NASDAQ:FAST - Free Report) by 46.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 85,797 shares of the company's stock after selling 73,691 shares during the period. iA Global Asset Management Inc.'s holdings in Fastenal were worth $6,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Fastenal in the third quarter valued at approximately $25,000. Knuff & Co LLC bought a new position in shares of Fastenal in the third quarter valued at approximately $27,000. Triad Wealth Partners LLC bought a new position in shares of Fastenal in the second quarter valued at approximately $32,000. Crewe Advisors LLC boosted its holdings in shares of Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company's stock valued at $32,000 after acquiring an additional 428 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock valued at $34,000 after acquiring an additional 428 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. This trade represents a 14.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Holden Lewis sold 30,000 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.52, for a total transaction of $2,295,600.00. Following the completion of the sale, the chief financial officer now owns 9,881 shares of the company's stock, valued at $756,094.12. The trade was a 75.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,289 shares of company stock valued at $16,123,438 in the last ninety days. Insiders own 0.41% of the company's stock.

Fastenal Stock Performance

Fastenal stock traded down $0.71 during mid-day trading on Friday, reaching $81.05. The company had a trading volume of 2,581,957 shares, compared to its average volume of 2,261,016. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. Fastenal has a 52 week low of $61.33 and a 52 week high of $84.88. The company has a 50 day moving average of $78.63 and a 200-day moving average of $70.88. The firm has a market cap of $46.43 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 4.81 and a beta of 1.00.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. On average, sell-side analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal's dividend payout ratio is currently 77.61%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Stifel Nicolaus restated a "buy" rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. UBS Group assumed coverage on shares of Fastenal in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 price target for the company. Bank of America assumed coverage on shares of Fastenal in a research report on Monday, October 7th. They issued a "buy" rating and a $85.00 price target for the company. Finally, Jefferies Financial Group upped their price target on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Fastenal currently has an average rating of "Hold" and an average target price of $76.80.

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.