Neuberger Berman Group LLC Buys 970,773 Shares of Fastenal Company $FAST

Neuberger Berman Group LLC boosted its stake in shares of Fastenal Company (NASDAQ:FAST) by 1,101.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,058,926 shares of the company’s stock after purchasing an additional 970,773 shares during the quarter. Neuberger Berman Group LLC’s holdings in Fastenal were worth $51,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FAST. Vanguard Group Inc. increased its position in shares of Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares in the last quarter. National Pension Service boosted its position in Fastenal by 3.6% in the third quarter. National Pension Service now owns 1,558,579 shares of the company’s stock valued at $76,433,000 after buying an additional 53,888 shares in the last quarter. Nordea Investment Management AB boosted its position in Fastenal by 6.3% in the third quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company’s stock valued at $181,626,000 after buying an additional 219,154 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Fastenal by 7,923.2% during the third quarter. Fifth Third Wealth Advisors LLC now owns 1,268,795 shares of the company’s stock worth $62,222,000 after buying an additional 1,252,981 shares during the last quarter. Finally, BlueStem Wealth Partners LLC bought a new stake in Fastenal during the third quarter worth about $634,000. 81.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Raymond James Financial set a $48.00 target price on shares of Fastenal in a research note on Thursday. 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. Barclays lifted their price objective on Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average price target of $48.83.

Fastenal Price Performance

FAST opened at $46.46 on Friday. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. The company’s 50 day simple moving average is $44.36 and its 200-day simple moving average is $44.31. The stock has a market capitalization of $53.35 billion, a P/E ratio of 42.24, a price-to-earnings-growth ratio of 3.02 and a beta of 0.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business posted $0.46 earnings per share. Fastenal’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were paid a $0.24 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is 87.27%.

Insiders Place Their Bets

In other news, Director Reyne K. Wisecup sold 36,920 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares in the company, valued at $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the transaction, the director directly owned 50,000 shares in the company, valued at $2,209,500. This trade represents a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.28% of the company’s stock.

Fastenal News Summary

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 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.