JPMorgan Chase & Co. Raises Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

JPMorgan Chase & Co. grew its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 15.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 258,646 shares of the industrial products company’s stock after buying an additional 35,289 shares during the period. JPMorgan Chase & Co.’s holdings in MSC Industrial Direct were worth $22,259,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MSM. Advisors Asset Management Inc. boosted its holdings in MSC Industrial Direct by 8,289.7% during the third quarter. Advisors Asset Management Inc. now owns 17,031 shares of the industrial products company’s stock worth $1,466,000 after buying an additional 16,828 shares in the last quarter. Barclays PLC grew its holdings in shares of MSC Industrial Direct by 36.9% in the 3rd quarter. Barclays PLC now owns 25,490 shares of the industrial products company’s stock worth $2,195,000 after acquiring an additional 6,864 shares during the period. Pathstone Holdings LLC increased its stake in MSC Industrial Direct by 36.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,114 shares of the industrial products company’s stock valued at $1,989,000 after purchasing an additional 6,172 shares in the last quarter. XTX Topco Ltd raised its holdings in MSC Industrial Direct by 398.1% during the third quarter. XTX Topco Ltd now owns 15,860 shares of the industrial products company’s stock worth $1,365,000 after purchasing an additional 12,676 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in MSC Industrial Direct by 85.1% during the second quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock worth $216,772,000 after purchasing an additional 1,256,706 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Transactions at MSC Industrial Direct

In other news, Director Philip Peller sold 900 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total value of $80,163.00. Following the sale, the director now owns 4,044 shares of the company’s stock, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the transaction, the chief executive officer now owns 1,402,849 shares of the company’s stock, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.30% of the company’s stock.

MSC Industrial Direct Stock Up 3.6 %

NYSE:MSM opened at $82.75 on Thursday. The stock has a 50-day simple moving average of $82.01 and a 200 day simple moving average of $81.81. MSC Industrial Direct Co., Inc. has a one year low of $72.79 and a one year high of $104.76. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 18.07 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $928.50 million during the quarter, compared to the consensus estimate of $904.90 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. Sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 3.63 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.40 dividend on an annualized basis and a yield of 4.11%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 74.24%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MSM shares. Robert W. Baird lifted their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. 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, JPMorgan Chase & Co. lowered their target price on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.20.

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.