International Assets Investment Management LLC Sells 265,829 Shares of Fastenal (NASDAQ:FAST)

International Assets Investment Management LLC reduced its position in Fastenal (NASDAQ:FAST - Free Report) by 98.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,020 shares of the company's stock after selling 265,829 shares during the quarter. International Assets Investment Management LLC's holdings in Fastenal were worth $286,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Fastenal during the third quarter valued at approximately $25,000. Knuff & Co LLC acquired a new stake in Fastenal during the 3rd quarter worth $27,000. Moisand Fitzgerald Tamayo LLC lifted its stake 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 worth $34,000 after buying an additional 428 shares in the last quarter. First Personal Financial Services acquired a new position in Fastenal during the third quarter worth about $36,000. Finally, CVA Family Office LLC lifted its stake in Fastenal by 51.0% in the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company's stock worth $38,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Buying and Selling at Fastenal

In other news, Director Nicholas J. Lundquist sold 22,532 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $77.15, for a total value of $1,738,343.80. Following the sale, the director now owns 426,000 shares in the company, valued at approximately $32,865,900. This represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 114,234 shares of company stock worth $9,272,924. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

FAST has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Morgan Stanley increased their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. UBS Group initiated coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price target on the stock. Jefferies Financial Group upped their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Finally, Hsbc Global Res downgraded Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $77.40.

Fastenal Stock Performance

NASDAQ FAST traded up $0.86 during trading hours on Monday, hitting $72.49. 479,177 shares of the stock were exchanged, compared to its average volume of 2,179,721. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $78.60 and a 200 day moving average of $72.66. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The company has a market cap of $41.53 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 4.64 and a beta of 1.02.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. As a group, equities research analysts forecast that Fastenal will post 2.03 earnings per share for the current year.

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.