Bank of New York Mellon Corp Sells 3,005,176 Shares of Fastenal Company $FAST

Bank of New York Mellon Corp trimmed its holdings in shares of Fastenal Company (NASDAQ:FAST) by 10.9% during the first quarter, Holdings Channel.com reports. The fund owned 24,654,846 shares of the company’s stock after selling 3,005,176 shares during the quarter. Bank of New York Mellon Corp’s holdings in Fastenal were worth $1,143,985,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC grew 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 purchasing an additional 147 shares in the last quarter. Sittner & Nelson LLC boosted its stake in shares of Fastenal by 0.3% in the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock valued at $2,749,000 after buying an additional 226 shares during the period. Founders Capital Management LLC boosted its stake in shares of Fastenal by 2.2% in the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock valued at $418,000 after buying an additional 228 shares during the period. Sound Income Strategies LLC grew its position in Fastenal by 12.9% during the first quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after buying an additional 232 shares in the last quarter. Finally, L2 Asset Management LLC grew its position in Fastenal by 4.8% during the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after buying an additional 248 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Trending Headlines about Fastenal

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FAST shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a report on Wednesday, July 8th. Robert W. Baird decreased their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research note on Wednesday. Wolfe Research reaffirmed an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a research report on Thursday, July 9th. Finally, DA Davidson reiterated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average target price of $48.58.

Fastenal Price Performance

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

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.Fastenal’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, sell-side analysts expect that Fastenal Company will post 1.24 earnings per share for the current fiscal 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 $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is currently 84.21%.

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.