Legal & General Group Plc Boosts Position in MSC Industrial Direct Co Inc (MSM)

Legal & General Group Plc boosted its holdings in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 3.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,891 shares of the industrial products company’s stock after purchasing an additional 1,950 shares during the period. Legal & General Group Plc owned about 0.12% of MSC Industrial Direct worth $5,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Paloma Partners Management Co raised its position in shares of MSC Industrial Direct by 172.4% during the 2nd quarter. Paloma Partners Management Co now owns 20,161 shares of the industrial products company’s stock worth $1,710,000 after purchasing an additional 12,761 shares during the last quarter. Cadence Capital Management LLC raised its position in shares of MSC Industrial Direct by 223.1% during the 3rd quarter. Cadence Capital Management LLC now owns 16,968 shares of the industrial products company’s stock worth $1,495,000 after purchasing an additional 11,716 shares during the last quarter. Morgan Stanley raised its position in shares of MSC Industrial Direct by 111.5% during the 2nd quarter. Morgan Stanley now owns 503,143 shares of the industrial products company’s stock worth $42,690,000 after purchasing an additional 265,257 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of MSC Industrial Direct by 106.7% during the 3rd quarter. WINTON GROUP Ltd now owns 112,202 shares of the industrial products company’s stock worth $9,886,000 after purchasing an additional 57,922 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of MSC Industrial Direct by 6.0% during the 2nd quarter. Northern Trust Corp now owns 417,264 shares of the industrial products company’s stock worth $35,405,000 after purchasing an additional 23,621 shares during the last quarter. Institutional investors own 75.87% of the company’s stock.

Shares of NYSE MSM opened at $79.08 on Friday. MSC Industrial Direct Co Inc has a 12-month low of $73.28 and a 12-month high of $99.74. The stock has a market cap of $4.29 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.37 and a quick ratio of 1.28.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, January 9th. The industrial products company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. MSC Industrial Direct had a net margin of 10.53% and a return on equity of 21.97%. The business had revenue of $831.60 million during the quarter, compared to analysts’ expectations of $830.60 million. During the same quarter in the prior year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that MSC Industrial Direct Co Inc will post 5.9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Stockholders of record on Tuesday, January 8th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, January 7th. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. MSC Industrial Direct’s dividend payout ratio (DPR) is 49.61%.

In other news, SVP David Wright sold 5,404 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $89.00, for a total value of $480,956.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rustom Jilla sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $87.50, for a total transaction of $218,750.00. The disclosure for this sale can be found here. Corporate insiders own 27.96% of the company’s stock.

Several research analysts recently weighed in on MSM shares. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Wednesday, September 26th. Buckingham Research started coverage on shares of MSC Industrial Direct in a research report on Friday, October 12th. They set a “neutral” rating and a $89.00 price target for the company. Gordon Haskett started coverage on shares of MSC Industrial Direct in a research report on Friday, October 12th. They set a “buy” rating for the company. Wells Fargo & Co reduced their price target on shares of MSC Industrial Direct from $87.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, December 21st. Finally, Jefferies Financial Group started coverage on shares of MSC Industrial Direct in a research report on Monday, January 7th. They set a “buy” rating and a $92.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. MSC Industrial Direct currently has a consensus rating of “Hold” and an average price target of $97.92.

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About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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