First Trust Advisors LP Lowers Stock Holdings in Fastenal Company $FAST

First Trust Advisors LP reduced its stake in Fastenal Company (NASDAQ:FAST) by 5.8% during the third quarter, HoldingsChannel.com reports. The firm owned 2,198,291 shares of the company’s stock after selling 136,389 shares during the quarter. First Trust Advisors LP’s holdings in Fastenal were worth $107,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after acquiring an additional 75,852,223 shares in the last quarter. State Street Corp grew its stake in shares of Fastenal by 99.6% in the second quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after acquiring an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Fastenal by 103.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after acquiring an additional 23,380,022 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock worth $1,506,141,000 after purchasing an additional 18,329,847 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Fastenal in the 2nd quarter worth about $638,648,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. The trade was a 48.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

Trending Headlines about Fastenal

Here are the key news stories impacting Fastenal this week:

• Positive Sentiment: February sales acceleration beat expectations, showing continued demand momentum that supports revenue growth and could underpin further upside for FAST. Fastenal’s February: Continued Sales Acceleration Tops Expectations
• Positive Sentiment: Robert W. Baird raised its price target to $52 and maintained an “outperform” rating, implying roughly double-digit upside vs. current levels — a clear near-term positive signal from a reputable sell-side firm. Baird raises Fastenal price target to $52
• Positive Sentiment: Technical/market commentary highlighted improved relative strength for Fastenal, which can attract momentum and quant-driven buying if the trend continues. Stocks generating improved relative strength: Fastenal
• Neutral Sentiment: Barclays nudged its target up to $44 but kept an “equal weight” rating — a modest lift in valuation but still signaling limited near-term upside from that shop. Barclays adjusts price target on Fastenal Company to $44 from $43; maintains equal-weight rating
• Neutral Sentiment: Benzinga published an analyst-roundup summarizing where Fastenal sits with the sell-side — useful context for consensus positioning but not a single catalyst. Where Fastenal Stands With Analysts
• Neutral Sentiment: Published short-interest data shows an implausible “0 shares” figure and NaN increases — this appears to be a reporting glitch, so it should not be interpreted as a real rise in short interest. (No reliable article link available.)
• Negative Sentiment: Director Reyne K. Wisecup sold 36,920 shares (~$1.75M at the sale price), cutting their holding by 48%. Insider selling at this scale can spook investors even if there are benign reasons; it’s a notable near-term negative signal. Insider sale: Reyne K. Wisecup sold Fastenal shares

Fastenal Price Performance

NASDAQ FAST opened at $46.46 on Monday. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The stock has a 50-day moving average of $44.36 and a 200 day moving average of $44.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The company has a market capitalization of $53.35 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.96 and a beta of 0.88.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the firm posted $0.46 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were issued a $0.24 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, January 29th. Fastenal’s dividend payout ratio is 87.27%.

Analyst Upgrades and Downgrades

FAST has been the topic of several recent analyst reports. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Robert W. Baird upped their target price on shares of Fastenal from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays increased their price target on shares of Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Wolfe Research raised their price target on shares of Fastenal from $42.00 to $43.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus price target of $48.83.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.