Louisiana State Employees Retirement System increased its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,800 shares of the industrial products company’s stock after buying an additional 500 shares during the period. Louisiana State Employees Retirement System’s holdings in MSC Industrial Direct were worth $1,014,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of MSM. Vanguard Group Inc. raised its position in MSC Industrial Direct by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,450,313 shares of the industrial products company’s stock valued at $457,315,000 after buying an additional 37,928 shares during the last quarter. BlackRock Inc. raised its stake in MSC Industrial Direct by 7,681.5% in the first quarter. BlackRock Inc. now owns 3,725,557 shares of the industrial products company’s stock valued at $382,836,000 after buying an additional 3,677,680 shares in the last quarter. FMR LLC raised its stake in MSC Industrial Direct by 72.5% in the first quarter. FMR LLC now owns 3,074,574 shares of the industrial products company’s stock valued at $315,943,000 after buying an additional 1,292,581 shares in the last quarter. State Street Corp raised its stake in MSC Industrial Direct by 1.7% in the first quarter. State Street Corp now owns 1,203,471 shares of the industrial products company’s stock valued at $123,670,000 after buying an additional 20,473 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in MSC Industrial Direct by 35.6% in the first quarter. AQR Capital Management LLC now owns 900,428 shares of the industrial products company’s stock valued at $92,528,000 after buying an additional 236,604 shares in the last quarter. Institutional investors and hedge funds own 76.83% of the company’s stock.
MSC Industrial Direct Company, Inc. (NYSE MSM) traded down 0.34% on Tuesday, hitting $70.07. The stock had a trading volume of 401,537 shares. The company’s 50 day moving average is $79.96 and its 200-day moving average is $91.87. The stock has a market cap of $3.99 billion, a P/E ratio of 17.47 and a beta of 0.50. MSC Industrial Direct Company, Inc. has a 12 month low of $69.61 and a 12 month high of $105.70.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, hitting analysts’ consensus estimates of $1.09. The business had revenue of $743.90 million during the quarter, compared to the consensus estimate of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 EPS. Analysts forecast that MSC Industrial Direct Company, Inc. will post $3.98 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were issued a $0.45 dividend. The ex-dividend date was Friday, July 14th. This represents a $1.80 annualized dividend and a yield of 2.56%. MSC Industrial Direct’s dividend payout ratio is currently 45.11%.
A number of brokerages recently weighed in on MSM. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Thursday, June 8th. Raymond James Financial, Inc. upgraded MSC Industrial Direct from a “market perform” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Wednesday, April 19th. Stifel Nicolaus reiterated a “hold” rating and set a $88.00 price target (down from $92.00) on shares of MSC Industrial Direct in a research report on Monday, June 12th. BMO Capital Markets decreased their price target on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating on the stock in a research report on Friday, July 14th. Finally, Robert W. Baird restated a “neutral” rating and issued a $85.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $90.85.
In related news, Director Philip Peller purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was purchased at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the acquisition, the director now owns 2,422 shares in the company, valued at $174,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.28% of the stock is currently owned by corporate insiders.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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