Fastenal (NASDAQ:FAST) Shares Sold by Peoples Financial Services CORP.

Peoples Financial Services CORP. cut its holdings in shares of Fastenal (NASDAQ:FAST) by 4.5% in the fourth quarter, HoldingsChannel reports. The fund owned 36,829 shares of the company’s stock after selling 1,753 shares during the quarter. Fastenal accounts for 1.2% of Peoples Financial Services CORP.’s portfolio, making the stock its 18th biggest holding. Peoples Financial Services CORP.’s holdings in Fastenal were worth $2,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal in the 3rd quarter valued at $25,000. Knuff & Co LLC bought a new position in Fastenal in the 3rd quarter valued at $27,000. Moisand Fitzgerald Tamayo LLC raised its position in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after acquiring an additional 428 shares during the last quarter. First Personal Financial Services bought a new stake in shares of Fastenal during the third quarter worth $36,000. Finally, CVA Family Office LLC increased its holdings in Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after purchasing an additional 180 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on FAST. UBS Group began coverage on Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Stifel Nicolaus cut Fastenal from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Wednesday, December 11th. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Robert W. Baird boosted their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.40.

Fastenal Price Performance

FAST stock opened at $73.74 on Wednesday. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The company has a market cap of $42.24 billion, a P/E ratio of 36.69, a PEG ratio of 4.64 and a beta of 1.02. The firm has a 50-day moving average of $78.41 and a 200 day moving average of $72.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29.

Insider Buying and Selling

In related news, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares of the company’s stock, valued at $883,199.20. This trade represents a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock valued at $6,211,126 over the last three months. Corporate insiders own 0.41% of the company’s stock.

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.