State Street Corp increased its position in shares of MSC Industrial Direct Co., Inc. (NYSE: MSM – Get Rating) by 0.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,214,539 shares of the industrial products company stock after purchasing an additional 1,065 shares during the period. State Street Corp owned 2.18% of MSC Industrial Direct worth $ 102,094,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. LPL Financial LLC grew its stake in MSC Industrial Direct by 19.7% during the fourth quarter. LPL Financial LLC now owns 7,058 shares of the industrial products company stock valued at $ 593,000 after acquiring an additional 1,163 shares in the last quarter. ETF Managers Group LLC grew its stake in MSC Industrial Direct by 5.0% during the fourth quarter. ETF Managers Group LLC now owns 7,662 shares of the industrial products company stock valued at $ 643,000 after acquiring an additional 363 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in MSC Industrial Direct by 9.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 186,142 shares of the industrial products company stock valued at $ 15,647,000 after acquiring an additional 16,106 shares in the last quarter. Gotham Asset Management LLC grew its stake in MSC Industrial Direct by 136.1% during the fourth quarter. Gotham Asset Management LLC now owns 6,789 shares of the industrial products company stock valued at $ 571,000 after acquiring an additional 3,914 shares in the last quarter. Finally, Invesco Ltd. grew its stake in MSC Industrial Direct by 12.6% during the fourth quarter. Invesco Ltd. now owns 557,693 shares of the industrial products company stock valued at $ 46,880,000 after acquiring an additional 62,316 shares in the last quarter. 76.92% of the stock is owned by institutional investors.
In related news, EVP Steven N. Baruch sold 8,250 shares of MSC Industrial Direct stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $ 85.73, for a total transaction of $ 707,272.50. Following the completion of the sale, the executive vice president now owns 12,569 shares in the company, valued at approximately $ 1,077,540.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Louise K. Goeser sold 2,440 shares of MSC Industrial Direct stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $ 82.47, for a total transaction of $ 201,226.80. Following the sale, the director now owns 9,763 shares of the company stock, valued at approximately $ 805,154.61. The disclosure for this sale can be found here. Insiders have sold a total of 42,325 shares of company stock valued at $ 3,629,109 in the last quarter. 28.28% of the stock is currently owned by company insiders.
MSC Industrial Direct stock opened at $ 81.45 on Friday. The firm has a 50-day moving average price of $ 83.85 and a 200-day moving average price of $ 82.41. The firm has a market capitalization of $ 4.55 billion, a PE ratio of 15.40 and a beta of 1.00. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.47. MSC Industrial Direct Co., Inc. has a 12-month low of $ 74.20 and a 12-month high of $ 92.65.
MSC Industrial Direct (NYSE: MSM – Get Rating) last released its earnings results on Wednesday, March 30th. The industrial products company reported $ 1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.25 by $ 0.04. The firm had revenue of $ 862.50 million during the quarter, compared to analyst estimates of $ 856.03 million. MSC Industrial Direct had a net margin of 8.70% and a return on equity of 24.70%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $ 1.03 EPS. As a group, sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 6.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Tuesday, April 12th were issued a dividend of $ 0.75 per share. The ex-dividend date of this dividend was Monday, April 11th. This represents a $ 3.00 dividend on an annualized basis and a yield of 3.68%. MSC Industrial Direct’s payout ratio is 56.71%.
Several equities analysts recently weighed in on the stock. KeyCorp raised their target price on shares of MSC Industrial Direct from $ 91.00 to $ 100.00 and gave the company an “overweight” rating in a research note on Thursday, March 31st. Robert W. Baird lifted their price objective on shares of MSC Industrial Direct from $ 103.00 to $ 105.00 in a research note on Thursday, March 31st. StockNews.com raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. Finally, Loop Capital lifted their price objective on shares of MSC Industrial Direct from $ 88.00 to $ 93.00 in a research note on Thursday, March 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company stock. According to MarketBeat, MSC Industrial Direct has a consensus rating of “Buy” and a consensus price target of $ 102.20.
MSC Industrial Direct Company Profile: (Get Rating)
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.
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