Fastenal Company $FAST Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in shares of Fastenal Company (NASDAQ:FAST) by 57.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 267,817 shares of the company’s stock after selling 354,755 shares during the quarter. Voya Investment Management LLC’s holdings in Fastenal were worth $13,134,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Riverview Trust Co increased its stake in Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Fastenal during the 2nd quarter worth approximately $27,000. Private Wealth Management Group LLC lifted its position in Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after buying an additional 339 shares in the last quarter. Hilltop National Bank purchased a new stake in Fastenal during the second quarter worth approximately $27,000. Finally, Clean Yield Group increased its position in shares of Fastenal by 100.0% in the second quarter. Clean Yield Group now owns 696 shares of the company’s stock worth $29,000 after acquiring an additional 348 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FAST. Robert W. Baird reduced their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised their price objective on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. Barclays reduced their price objective on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Sanford C. Bernstein began coverage on Fastenal in a research note on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 target price for the company. Finally, Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.73.

Key Stores Impacting Fastenal

Here are the key news stories impacting Fastenal this week:

• Positive Sentiment: Board names internal successor — Fastenal announced President Jeff Watts will succeed Dan Florness in July (internal promotion signals continuity of strategy and execution, which markets typically view favorably). Fastenal names Jeff Watts as next CEO
• Positive Sentiment: Analysts cite smooth transition — William Blair and other commentators emphasize the orderly handoff and strategic continuity, underpinning positive analyst views and a Buy stance for some firms. Fastenal: Smooth CEO Transition and Strategic Continuity Underpin Buy Rating
• Neutral Sentiment: Company and major outlets publish transition details — Official filings and press releases outline timing and leadership roles; broad news coverage (Reuters, Yahoo, MarketWatch) gives investors the facts but no operational surprises. Fastenal Announces CEO Transition
• Negative Sentiment: Valuation concerns / downgrade — A published downgrade argues Fastenal is “too expensive” and flags valuation (high P/E, stretched multiples) as a reason to reduce exposure despite the management change. That analyst view may cap upside if others follow. Fastenal Has Gotten Too Expensive (Downgrade)

Insider Transactions at Fastenal

In related news, Director Hsenghung Sam Hsu purchased 1,000 shares of Fastenal stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sarah N. Nielsen acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $198,000. This represents a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 3,000 shares of company stock worth $131,630. Company insiders own 0.37% of the company’s stock.

Fastenal Stock Down 1.4%

Shares of Fastenal stock opened at $41.75 on Tuesday. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63. The company has a market capitalization of $47.93 billion, a PE ratio of 39.02, a P/E/G ratio of 3.39 and a beta of 0.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The business has a 50-day moving average of $41.31 and a 200-day moving average of $44.47.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is presently 82.24%.

Fastenal 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.