Bank of New York Mellon Corp Has $1.14 Billion Stock Holdings in Fastenal Company $FAST

Bank of New York Mellon Corp decreased its position in Fastenal Company (NASDAQ:FAST) by 10.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 24,654,846 shares of the company’s stock after selling 3,005,176 shares during the period. Bank of New York Mellon Corp owned about 2.15% of Fastenal worth $1,143,985,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its holdings in shares of Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares in the last quarter. Sittner & Nelson LLC raised its holdings in Fastenal by 0.3% during the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after acquiring an additional 226 shares in the last quarter. Founders Capital Management LLC boosted its position in Fastenal by 2.2% during the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock valued at $418,000 after purchasing an additional 228 shares during the last quarter. Sound Income Strategies LLC grew its stake in Fastenal by 12.9% in the first quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock valued at $94,000 after purchasing an additional 232 shares in the last quarter. Finally, L2 Asset Management LLC increased its position in shares of Fastenal by 4.8% during the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after purchasing an additional 248 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FAST shares. Robert W. Baird cut their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. JPMorgan Chase & Co. upped their price target on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Bank of America increased their price target on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Finally, Morgan Stanley set a $48.00 price objective on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.58.

Fastenal Trading Down 0.8%

FAST stock opened at $45.36 on Thursday. Fastenal Company has a one year low of $38.97 and a one year high of $50.63. The stock has a market cap of $52.08 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a fifty day moving average price of $45.64 and a two-hundred day moving average price of $45.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.34.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. Equities analysts anticipate that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 annualized dividend and a yield of 2.3%. This is an increase from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is currently 84.21%.

Key Stories Impacting Fastenal

Here are the key news stories impacting Fastenal this week:

• Positive Sentiment: Fastenal reported Q2 revenue of $2.39 billion, topping estimates and rising 14.7% year over year, helped by strong daily sales growth, larger-customer gains, and favorable pricing. Fastenal Company Reports 2026 Second Quarter Earnings
• Positive Sentiment: Several analysts remained constructive after the report, including Rothschild & Co Redburn with a Buy rating and $55 target, and William Blair with a Buy rating on expectations for second-half operating leverage. Rothschild & Co Redburn coverage update
• Positive Sentiment: Morningstar highlighted Fastenal’s ability to use operating leverage to compound earnings, reinforcing the view that the company has a durable business model. Morningstar company report
• Neutral Sentiment: DA Davidson reaffirmed a Neutral rating and set a $46 price target, which is only modestly above the current share price and suggests limited near-term upside. DA Davidson rating update
• Neutral Sentiment: Morgan Stanley kept a Hold rating with a $48 target, signaling that the quarter was solid but not strong enough to change a cautious stance. Morgan Stanley rating update
• Negative Sentiment: The market’s concern appears to be margin compression and weaker cash flow, since earnings merely met estimates rather than beat them decisively, even with strong revenue growth. Zacks earnings commentary

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.