Public Employees Retirement System of Ohio lowered its stake in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,783 shares of the industrial products company’s stock after selling 2,724 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.65% of MSC Industrial Direct worth $35,743,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Westpac Banking Corp raised its stake in shares of MSC Industrial Direct by 14.8% in the 3rd quarter. Westpac Banking Corp now owns 79,800 shares of the industrial products company’s stock valued at $6,030,000 after acquiring an additional 10,300 shares during the period. Alpha Windward LLC purchased a new position in shares of MSC Industrial Direct in the 3rd quarter valued at $521,000. Janus Henderson Group PLC purchased a new position in shares of MSC Industrial Direct in the 2nd quarter valued at $12,989,000. Dimensional Fund Advisors LP raised its stake in shares of MSC Industrial Direct by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 467,125 shares of the industrial products company’s stock valued at $40,153,000 after acquiring an additional 45,196 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of MSC Industrial Direct by 7.4% in the 3rd quarter. Prudential Financial Inc. now owns 203,732 shares of the industrial products company’s stock valued at $15,396,000 after acquiring an additional 14,046 shares during the period. 74.95% of the stock is currently owned by institutional investors and hedge funds.
MSM has been the topic of a number of research reports. Zacks Investment Research downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. KeyCorp reissued a “hold” rating on shares of MSC Industrial Direct in a research note on Tuesday, October 17th. BMO Capital Markets raised their target price on shares of MSC Industrial Direct from $83.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, November 1st. Wells Fargo & Co set a $86.00 target price on shares of MSC Industrial Direct and gave the company a “hold” rating in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $84.00 target price on shares of MSC Industrial Direct in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $95.92.
Shares of MSC Industrial Direct Co Inc (MSM) opened at $88.46 on Tuesday. The firm has a market cap of $5,036.44, a price-to-earnings ratio of 21.37, a P/E/G ratio of 1.30 and a beta of 0.59. MSC Industrial Direct Co Inc has a fifty-two week low of $65.42 and a fifty-two week high of $105.70. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million for the quarter, compared to analyst estimates of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. MSC Industrial Direct’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. equities analysts anticipate that MSC Industrial Direct Co Inc will post 5.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.62%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, January 12th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 56.04%.
MSC Industrial Direct declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 10th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, VP Charles Bonomo sold 1,800 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $92.19, for a total transaction of $165,942.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven N. Baruch sold 5,762 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $81.25, for a total transaction of $468,162.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 924,103 shares of company stock valued at $85,457,977. Company insiders own 31.38% of the company’s stock.
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MSC Industrial Direct Profile
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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