American Century Companies Inc. increased its holdings in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 22.7% in the 3rd quarter, Holdings Channel reports. The firm owned 2,973,375 shares of the industrial products company’s stock after acquiring an additional 549,641 shares during the quarter. American Century Companies Inc. owned about 0.05% of MSC Industrial Direct worth $261,984,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Macquarie Group Ltd. purchased a new stake in MSC Industrial Direct in the second quarter valued at approximately $110,000. CHICAGO TRUST Co NA purchased a new stake in MSC Industrial Direct in the second quarter valued at approximately $218,000. Nomura Holdings Inc. purchased a new stake in MSC Industrial Direct in the second quarter valued at approximately $219,000. Meeder Asset Management Inc. lifted its stake in MSC Industrial Direct by 374.5% in the second quarter. Meeder Asset Management Inc. now owns 3,089 shares of the industrial products company’s stock valued at $262,000 after buying an additional 2,438 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake in MSC Industrial Direct by 703.7% in the second quarter. Itau Unibanco Holding S.A. now owns 3,271 shares of the industrial products company’s stock valued at $278,000 after buying an additional 2,864 shares during the last quarter. Hedge funds and other institutional investors own 75.89% of the company’s stock.
A number of equities research analysts have weighed in on MSM shares. Zacks Investment Research upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Sunday, July 15th. Gordon Haskett started coverage on MSC Industrial Direct in a research note on Friday, October 12th. They issued a “buy” rating for the company. Buckingham Research started coverage on MSC Industrial Direct in a research note on Friday, October 12th. They issued a “neutral” rating and a $89.00 price objective for the company. Northcoast Research set a $95.00 price objective on MSC Industrial Direct and gave the company a “buy” rating in a research note on Friday, July 13th. Finally, ValuEngine upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $100.00.
NYSE:MSM opened at $86.87 on Wednesday. The company has a market capitalization of $4.74 billion, a PE ratio of 17.10, a P/E/G ratio of 0.95 and a beta of 0.64. The company has a current ratio of 2.34, a quick ratio of 1.28 and a debt-to-equity ratio of 0.22. MSC Industrial Direct Co Inc has a 12-month low of $75.34 and a 12-month high of $99.94.
MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, October 30th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.03. The business had revenue of $838.00 million for the quarter, compared to analyst estimates of $838.88 million. MSC Industrial Direct had a return on equity of 21.36% and a net margin of 10.28%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. Equities analysts predict that MSC Industrial Direct Co Inc will post 5.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.58. MSC Industrial Direct’s payout ratio is presently 45.67%.
In other news, Director Denis F. Kelly sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $88.43, for a total value of $132,645.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 31.38% of the company’s stock.
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MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily 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, 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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