NEXT Financial Group Inc Has $395,000 Stock Holdings in Fastenal (NASDAQ:FAST)

NEXT Financial Group Inc grew its holdings in Fastenal (NASDAQ:FAST) by 411.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,140 shares of the company’s stock after buying an additional 9,765 shares during the quarter. NEXT Financial Group Inc’s holdings in Fastenal were worth $395,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FAST. Comerica Securities Inc. raised its stake in shares of Fastenal by 4.6% in the 4th quarter. Comerica Securities Inc. now owns 10,742 shares of the company’s stock valued at $562,000 after buying an additional 475 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Fastenal by 17.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,282,850 shares of the company’s stock worth $67,081,000 after purchasing an additional 192,809 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Fastenal by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock worth $217,478,000 after purchasing an additional 225,481 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Fastenal by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 12,572 shares of the company’s stock worth $657,000 after purchasing an additional 221 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Fastenal by 2.5% in the 4th quarter. FMR LLC now owns 2,272,927 shares of the company’s stock worth $118,852,000 after purchasing an additional 54,526 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

FAST has been the topic of several analyst reports. Northcoast Research lowered shares of Fastenal from a “buy” rating to a “neutral” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Morgan Stanley decreased their price objective on shares of Fastenal from $31.50 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. William Blair lowered shares of Fastenal from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. Raymond James decreased their price objective on shares of Fastenal from $39.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, July 12th. Finally, Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Fastenal presently has an average rating of “Hold” and an average price target of $31.36.

Shares of NASDAQ FAST traded down $0.01 during mid-day trading on Friday, hitting $29.62. The company’s stock had a trading volume of 5,695,920 shares, compared to its average volume of 5,033,785. The stock has a market capitalization of $17.66 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Fastenal has a one year low of $24.00 and a one year high of $35.94. The company has a fifty day simple moving average of $31.59.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. On average, equities research analysts anticipate that Fastenal will post 1.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, July 24th. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.

In other Fastenal news, Director Michael J. Ancius bought 1,104 shares of Fastenal stock in a transaction dated Thursday, July 18th. The shares were bought at an average price of $30.13 per share, with a total value of $33,263.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel L. Johnson bought 2,500 shares of Fastenal stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $30.49 per share, for a total transaction of $76,225.00. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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