LGT Group Foundation Increases Stock Position in Fastenal Company $FAST

LGT Group Foundation grew its position in shares of Fastenal Company (NASDAQ:FAST) by 5.1% in the third quarter, HoldingsChannel reports. The firm owned 1,119,012 shares of the company’s stock after buying an additional 54,054 shares during the quarter. LGT Group Foundation’s holdings in Fastenal were worth $53,399,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FAST. Vanguard Group Inc. increased its position in Fastenal by 1.6% in the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares during the last quarter. National Pension Service lifted its holdings in shares of Fastenal by 3.6% in the 3rd quarter. National Pension Service now owns 1,558,579 shares of the company’s stock valued at $76,433,000 after acquiring an additional 53,888 shares during the last quarter. Nordea Investment Management AB grew its position in Fastenal by 6.3% in the third quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company’s stock worth $181,626,000 after acquiring an additional 219,154 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Fastenal by 7,923.2% during the third quarter. Fifth Third Wealth Advisors LLC now owns 1,268,795 shares of the company’s stock worth $62,222,000 after acquiring an additional 1,252,981 shares during the last quarter. Finally, BlueStem Wealth Partners LLC bought a new stake in Fastenal during the third quarter worth approximately $634,000. 81.38% of the stock is owned by institutional investors.

Fastenal News Roundup

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 Stock Performance

Shares of Fastenal stock opened at $46.46 on Monday. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $44.36 and its 200-day moving average price is $44.24. The firm has a market cap of $53.35 billion, a P/E ratio of 42.24, a P/E/G ratio of 2.96 and a beta of 0.88. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, January 20th. The company reported $0.26 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 business 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 company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

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

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 40,000 shares in the company, valued at approximately $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Satterlee sold 15,964 shares of the stock in a transaction dated 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 directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

FAST has been the subject of several analyst reports. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Robert W. Baird raised their price objective on shares of Fastenal from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday. Wolfe Research increased their price target on Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.83.

Fastenal Company Profile

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.