Blair William & Co. IL trimmed its holdings in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 70.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,889 shares of the industrial products company’s stock after selling 40,158 shares during the period. Blair William & Co. IL’s holdings in MSC Industrial Direct were worth $1,488,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in MSC Industrial Direct by 9.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 504,431 shares of the industrial products company’s stock valued at $44,444,000 after buying an additional 43,426 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in MSC Industrial Direct by 29.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 201,200 shares of the industrial products company’s stock valued at $17,728,000 after buying an additional 45,900 shares during the last quarter. Crawford Investment Counsel Inc. grew its holdings in MSC Industrial Direct by 45.4% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 41,380 shares of the industrial products company’s stock valued at $3,646,000 after buying an additional 12,920 shares during the last quarter. FMR LLC grew its holdings in MSC Industrial Direct by 16.8% during the 3rd quarter. FMR LLC now owns 721,317 shares of the industrial products company’s stock valued at $63,556,000 after buying an additional 103,862 shares during the last quarter. Finally, American International Group Inc. grew its holdings in MSC Industrial Direct by 15.1% during the 3rd quarter. American International Group Inc. now owns 106,300 shares of the industrial products company’s stock valued at $9,366,000 after buying an additional 13,913 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.
MSM stock opened at $82.32 on Friday. MSC Industrial Direct Co Inc has a 52-week low of $75.34 and a 52-week high of $99.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.28 and a current ratio of 2.34. The firm has a market cap of $4.70 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.95 and a beta of 0.66.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. MSC Industrial Direct had a return on equity of 21.36% and a net margin of 10.28%. The business had revenue of $838.00 million for the quarter, compared to analysts’ expectations of $838.88 million. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts predict that MSC Industrial Direct Co Inc will post 5.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, November 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.06%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.58. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 49.61%.
In related news, SVP David Wright sold 5,404 shares of MSC Industrial Direct stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $89.00, for a total value of $480,956.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rustom Jilla sold 2,500 shares of MSC Industrial Direct stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $87.50, for a total value of $218,750.00. The disclosure for this sale can be found here. 31.28% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on the company. Gordon Haskett assumed coverage on MSC Industrial Direct in a report on Friday, October 12th. They set a “buy” rating on the stock. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Wednesday, September 26th. Finally, Buckingham Research assumed coverage on MSC Industrial Direct in a report on Friday, October 12th. They set a “neutral” rating and a $89.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $100.00.
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MSC Industrial Direct Company Profile
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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