International Assets Investment Management LLC Raises Stock Position in Fastenal (NASDAQ:FAST)

International Assets Investment Management LLC increased its holdings in shares of Fastenal (NASDAQ:FAST) by 7,701.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,849 shares of the company’s stock after purchasing an additional 266,390 shares during the period. International Assets Investment Management LLC’s holdings in Fastenal were worth $192,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FAST. ProShare Advisors LLC raised its holdings in shares of Fastenal by 497.3% during the first quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock worth $239,083,000 after purchasing an additional 2,580,478 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Fastenal by 4,008.2% during the second quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock worth $47,522,000 after purchasing an additional 737,833 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $241,161,000 after buying an additional 636,546 shares during the period. Renaissance Technologies LLC acquired a new stake in Fastenal during the second quarter valued at $37,659,000. Finally, TD Asset Management Inc grew its position in Fastenal by 21.2% during the first quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after buying an additional 569,118 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 0.3 %

Shares of NASDAQ FAST opened at $75.85 on Friday. The company’s 50-day simple moving average is $70.74 and its 200-day simple moving average is $68.04. Fastenal has a 52-week low of $57.01 and a 52-week high of $79.04. The firm has a market cap of $43.43 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. Fastenal’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. Equities analysts predict that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.06%. Fastenal’s payout ratio is presently 77.61%.

Insider Buying and Selling

In related news, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the transaction, the insider now directly owns 5,997 shares in the company, valued at approximately $465,667.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Fastenal news, insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the transaction, the insider now directly owns 5,997 shares of the company’s stock, valued at $465,667.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,373 shares of company stock worth $13,029,308. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FAST. Robert W. Baird raised their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley raised their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Stephens raised their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Bank of America started coverage on shares of Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price target on the stock. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Fastenal has a consensus rating of “Hold” and an average target price of $73.33.

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.