Retirement Systems of Alabama trimmed its stake in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 37.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,594 shares of the industrial products company’s stock after selling 35,000 shares during the period. Retirement Systems of Alabama’s holdings in MSC Industrial Direct were worth $5,567,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of MSM. Cerebellum GP LLC acquired a new stake in shares of MSC Industrial Direct during the 4th quarter valued at approximately $127,000. PNC Financial Services Group Inc. lifted its position in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 8 shares during the period. Cutler Group LP lifted its position in shares of MSC Industrial Direct by 457.8% during the 4th quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 1,831 shares during the period. QS Investors LLC lifted its position in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 8 shares during the period. Finally, Zions Bancorporation acquired a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at approximately $150,000. Institutional investors own 73.99% of the company’s stock.
MSM has been the subject of a number of research reports. Credit Suisse Group reiterated an “outperform” rating and set a $112.00 price target (up from $100.00) on shares of MSC Industrial Direct in a research report on Tuesday, January 9th. Stifel Nicolaus reiterated a “hold” rating and set a $93.00 price target on shares of MSC Industrial Direct in a research report on Monday, December 11th. Zacks Investment Research cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Northcoast Research raised shares of MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Finally, UBS Group cut shares of MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. MSC Industrial Direct has a consensus rating of “Hold” and a consensus target price of $95.92.
In other MSC Industrial Direct news, CFO Rustom Jilla sold 2,500 shares of MSC Industrial Direct stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $99.00, for a total value of $247,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Charles Bonomo sold 1,800 shares of MSC Industrial Direct 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 disclosure for this sale can be found here. Insiders sold a total of 783,437 shares of company stock valued at $74,083,049 over the last ninety days. 31.38% of the stock is owned by corporate insiders.
Shares of MSC Industrial Direct Co Inc (NYSE:MSM) opened at $88.30 on Wednesday. The company has a market cap of $5,008.78, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. MSC Industrial Direct Co Inc has a 12 month low of $65.42 and a 12 month high of $105.70.
MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million during the quarter, compared to analysts’ expectations of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm 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 fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th were paid a $0.58 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, January 12th. MSC Industrial Direct’s payout ratio is presently 56.04%.
MSC Industrial Direct declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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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.
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