Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Position in Fastenal Company $FAST

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Fastenal Company (NASDAQ:FAST) by 153.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank bought a new position in shares of Fastenal in the fourth quarter worth about $646,046,000. Wellington Management Group LLP lifted its holdings in Fastenal by 243.5% in the 4th quarter. Wellington Management Group LLP now owns 12,095,194 shares of the company’s stock worth $485,380,000 after purchasing an additional 8,574,208 shares in the last quarter. Bank of America Corp DE lifted its holdings in Fastenal by 106.1% in the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock worth $648,118,000 after purchasing an additional 7,943,217 shares in the last quarter. Invesco Ltd. boosted its stake in Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after purchasing an additional 2,242,116 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in Fastenal by 1,039.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock worth $94,253,000 after purchasing an additional 2,132,593 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Down 0.8%

Shares of FAST opened at $45.36 on Thursday. The company has a market cap of $52.08 billion, a PE ratio of 38.44, a P/E/G ratio of 2.90 and a beta of 0.72. The business has a fifty day moving average of $45.64 and a 200 day moving average of $45.14. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $50.63. The company has a quick ratio of 2.34, a current ratio of 4.18 and a debt-to-equity ratio of 0.01.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the business posted $0.29 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts expect that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s dividend payout ratio is presently 84.21%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FAST. Bank of America lifted their price objective on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research note on Wednesday. Robert W. Baird reduced 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. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a report on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.