Fastenal Company $FAST Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management increased its stake in Fastenal by 2.5% in Q3, buying 24,420 shares to hold 1,017,730 shares (about $49.9M), and institutional investors now own roughly 81.38% of the company.
• Operational and analyst signals are mixed-to-positive: Fastenal's February sales acceleration beat expectations and Robert W. Baird raised its target to $52 with an "outperform" rating, while consensus across analysts remains a "Hold" with a $48.83 target.
• Corporate actions show both shareholder returns and insider exits: Fastenal raised its quarterly dividend to $0.24 (annualized $0.96, ~2.1% yield), even as directors Scott Satterlee and Reyne K. Wisecup sold sizable positions (15,964 and 36,920 shares, respectively), leaving insiders with 0.28% ownership.

Victory Capital Management Inc. grew its position in Fastenal Company (NASDAQ:FAST - Free Report) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,017,730 shares of the company's stock after purchasing an additional 24,420 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Fastenal worth $49,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FAST. Integrated Wealth Concepts LLC boosted its position in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock worth $487,000 after acquiring an additional 147 shares in the last quarter. Sowell Financial Services LLC lifted its stake in Fastenal by 4.7% during the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company's stock worth $260,000 after purchasing an additional 238 shares during the last quarter. Rowlandmiller & PARTNERS.ADV boosted its holdings in Fastenal by 1.7% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company's stock valued at $721,000 after purchasing an additional 250 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company's stock valued at $30,000 after purchasing an additional 255 shares during the last quarter. Finally, Harfst & Associates Inc. raised its holdings in Fastenal by 0.4% during the third quarter. Harfst & Associates Inc. now owns 63,720 shares of the company's stock worth $3,125,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Key Fastenal News

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 Down 1.8%

Fastenal stock opened at $46.46 on Friday. The stock has a 50 day moving average of $44.36 and a two-hundred day moving average of $44.31. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The stock has a market capitalization of $53.35 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 3.02 and a beta of 0.88. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Fastenal's previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal's dividend payout ratio (DPR) is presently 87.27%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Fastenal from $51.00 to $52.00 and gave the company an "outperform" rating in a research report on Friday. Sanford C. Bernstein reiterated an "underperform" rating on shares of Fastenal in a research report on Wednesday, January 21st. Morgan Stanley reissued a "positive" rating and issued a $45.00 target price on shares of Fastenal in a research report on Thursday. Benchmark reaffirmed a "buy" rating on shares of Fastenal in a research report on Thursday. Finally, Raymond James Financial set a $48.00 price objective on Fastenal in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $48.83.

Insider Activity

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

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.

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