MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Purchased by State Street Corp

State Street Corp raised its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,390,960 shares of the industrial products company’s stock after purchasing an additional 1,269 shares during the quarter. State Street Corp’s holdings in MSC Industrial Direct were worth $119,706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in MSC Industrial Direct by 85.1% in the 2nd quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock worth $216,772,000 after buying an additional 1,256,706 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of MSC Industrial Direct by 804.5% in 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 in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of MSC Industrial Direct during the third quarter valued at $12,170,000. Renaissance Technologies LLC raised its stake in shares of MSC Industrial Direct by 1,715.2% during the second quarter. Renaissance Technologies LLC now owns 143,400 shares of the industrial products company’s stock valued at $11,373,000 after purchasing an additional 135,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in MSC Industrial Direct by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company’s stock worth $134,859,000 after purchasing an additional 113,878 shares during the period. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MSM shares. JPMorgan Chase & Co. lowered their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Stephens downgraded MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research report on Wednesday, December 4th. Finally, Robert W. Baird boosted their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $85.20.

MSC Industrial Direct Trading Up 0.2 %

Shares of NYSE MSM opened at $83.31 on Friday. The firm has a market capitalization of $4.66 billion, a PE ratio of 18.19 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a one year low of $75.05 and a one year high of $104.76. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $83.55 and a two-hundred day moving average price of $82.48.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). The company had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, analysts predict that MSC Industrial Direct Co., Inc. will post 3.63 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.85 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Wednesday, November 13th. MSC Industrial Direct’s payout ratio is currently 74.24%.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, Director Philip Peller sold 900 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total value of $80,163.00. Following the transaction, the director now directly owns 4,044 shares of the company’s stock, valued at $360,199.08. This represents a 18.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the sale, the chief executive officer now owns 1,402,849 shares of the company’s stock, valued at approximately $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.80% of the stock is currently owned by company insiders.

MSC Industrial Direct Company 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.