Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 22,571 Shares of Fastenal Company $FAST

Key Points

• Empirical Wealth Management boosted its Fastenal stake by 153.1% in the first quarter, buying 22,571 additional shares to bring its total holdings to 37,315 shares valued at about $1.73 million.
• Fastenal’s latest quarter was solid: earnings matched estimates at $0.33 per share, while revenue of $2.39 billion beat expectations and rose 14.7% year over year.
• The company raised its dividend to $0.26 per share from $0.24, lifting the annualized payout to $1.04 and the yield to roughly 2.3%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 153.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,315 shares of the company's stock after acquiring an additional 22,571 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Fastenal were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Palladiem LLC purchased a new position in shares of Fastenal during the fourth quarter valued at approximately $25,000. Elyxium Wealth LLC bought a new position in Fastenal during the 4th quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new position in Fastenal during the fourth quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new stake in Fastenal in the third quarter worth $36,000. Finally, Field & Main Bank purchased a new stake in shares of Fastenal in the fourth quarter worth $30,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Down 0.8%

Shares of Fastenal stock opened at $45.36 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.34. The stock has a market capitalization of $52.08 billion, a PE ratio of 38.44, a P/E/G ratio of 2.90 and a beta of 0.72. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The company's fifty day simple moving average is $45.64 and its 200-day simple moving average is $45.14.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the business earned $0.29 earnings per share. Fastenal's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts anticipate that Fastenal Company will post 1.24 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be paid a dividend of $0.26 per share. This is a boost from Fastenal's previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. Fastenal's dividend payout ratio is presently 84.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FAST. Wolfe Research restated an "underperform" rating and set a $47.00 price target on shares of Fastenal in a report on Thursday, July 9th. DA Davidson reissued a "neutral" rating and set a $46.00 price objective on shares of Fastenal in a research report on Wednesday. Rothschild & Co Redburn set a $55.00 price objective on shares of Fastenal and gave the company a "buy" rating in a research note on Monday. Robert W. Baird cut their price target on shares of Fastenal from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Fastenal in a research report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $48.58.

More Fastenal News

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

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.

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