MSC Industrial Direct Co Inc (MSM) Stake Raised by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,409 shares of the industrial products company’s stock after purchasing an additional 8,409 shares during the quarter. California Public Employees Retirement System owned about 0.25% of MSC Industrial Direct worth $10,686,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MSM. JPMorgan Chase & Co. grew its stake in shares of MSC Industrial Direct by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock valued at $246,031,000 after acquiring an additional 159,772 shares in the last quarter. American Century Companies Inc. grew its stake in shares of MSC Industrial Direct by 1,889.6% during the third quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock valued at $158,638,000 after acquiring an additional 1,993,717 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of MSC Industrial Direct by 267.2% during the second quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock valued at $123,891,000 after acquiring an additional 1,048,714 shares in the last quarter. State Street Corp grew its stake in shares of MSC Industrial Direct by 1.6% during the second quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock valued at $105,113,000 after acquiring an additional 19,302 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of MSC Industrial Direct by 105.3% during the third quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock valued at $89,112,000 after acquiring an additional 604,873 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on MSM shares. Susquehanna Bancshares restated a “hold” rating and set a $92.00 target price on shares of MSC Industrial Direct in a research note on Wednesday, January 3rd. Raymond James Financial restated an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of MSC Industrial Direct in a research note on Thursday, January 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Wednesday, September 27th. Stifel Nicolaus restated a “hold” rating and set a $84.00 target price on shares of MSC Industrial Direct in a research note on Friday, November 3rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $112.00 target price (up from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $95.00.

MSC Industrial Direct Co Inc (MSM) opened at $95.15 on Friday. The company has a market capitalization of $5,370.00, a PE ratio of 22.93, a P/E/G ratio of 1.90 and a beta of 0.67. MSC Industrial Direct Co Inc has a 52 week low of $65.42 and a 52 week high of $105.70. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.16.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million during the quarter, compared to analyst estimates of $770.95 million. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. analysts anticipate that MSC Industrial Direct Co Inc will post 4.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, January 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.44%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 46.27%.

MSC Industrial Direct announced that its board has authorized a share buyback plan on Wednesday, January 10th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

In other MSC Industrial Direct news, EVP Steven N. Baruch sold 5,762 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $81.25, for a total value of $468,162.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mitchell Jacobson sold 26,306 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,088,696.40. The disclosure for this sale can be found here. Insiders sold 225,541 shares of company stock worth $18,264,812 in the last three months. 31.38% of the stock is currently owned by corporate insiders.

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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.

Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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