MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. increased its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 18.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,105 shares of the industrial products company’s stock after buying an additional 4,197 shares during the period. AGF Management Ltd.’s holdings in MSC Industrial Direct were worth $2,150,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in MSC Industrial Direct during the fourth quarter valued at $56,088,000. Hennessy Advisors Inc. acquired a new stake in shares of MSC Industrial Direct in the fourth quarter valued at about $21,649,000. Swedbank AB acquired a new stake in MSC Industrial Direct during the first quarter worth about $16,571,000. Allspring Global Investments Holdings LLC increased its position in MSC Industrial Direct by 804.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 173,653 shares of the industrial products company’s stock worth $13,772,000 after purchasing an additional 154,454 shares during the last quarter. Finally, Capital Research Global Investors increased its position in MSC Industrial Direct by 14.8% during the fourth quarter. Capital Research Global Investors now owns 775,000 shares of the industrial products company’s stock worth $78,476,000 after purchasing an additional 100,000 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Stock Up 1.0 %

Shares of MSC Industrial Direct stock opened at $79.48 on Friday. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $105.77. The company has a 50 day moving average of $81.45 and a 200 day moving average of $87.36. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.46 billion, a P/E ratio of 15.43 and a beta of 0.86.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.33. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The company had revenue of $979.40 million during the quarter, compared to the consensus estimate of $979.10 million. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, research analysts forecast that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th were issued a $0.83 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.18%. MSC Industrial Direct’s payout ratio is 64.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MSM shares. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a research report on Friday, June 14th. Robert W. Baird lowered their price objective on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Baird R W lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Loop Capital lowered their price objective on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, KeyCorp lowered shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, MSC Industrial Direct has an average rating of “Hold” and an average price target of $90.20.

Insider Activity

In other news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total value of $413,271.00. Following the transaction, the senior vice president now directly owns 12,897 shares of the company’s stock, valued at approximately $1,091,086.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

MSC Industrial Direct Profile

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, the United Kingdom, and internationally. The company's 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.