Korea Investment CORP Buys 172,754 Shares of Fastenal Company $FAST

Korea Investment CORP grew its position in shares of Fastenal Company (NASDAQ:FAST) by 21.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 967,111 shares of the company’s stock after purchasing an additional 172,754 shares during the quarter. Korea Investment CORP owned about 0.08% of Fastenal worth $47,427,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FAST shares. Robert W. Baird boosted their price objective on Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James Financial set a $48.00 price target on Fastenal in a research note on Thursday. UBS Group reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research report on Wednesday, January 21st. Barclays increased their target price on shares of Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Wolfe Research lifted their price target on shares of Fastenal from $42.00 to $43.00 and gave the company an “underperform” rating in a research note on Friday, February 27th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.83.

Fastenal Stock Down 1.8%

Shares of NASDAQ:FAST opened at $46.46 on Monday. The business’s 50 day moving average is $44.36 and its 200 day moving average is $44.24. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The stock has a market cap of $53.35 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.96 and a beta of 0.88. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. On average, sell-side analysts forecast 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 issued a $0.24 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, January 29th. Fastenal’s dividend payout ratio is currently 87.27%.

More 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

Insider Transactions at Fastenal

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

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.