MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Sprucegrove Investment Management Ltd.

Sprucegrove Investment Management Ltd. reduced its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 8.8% in the 1st quarter, Holdings Channel reports. The firm owned 938,410 shares of the industrial products company’s stock after selling 90,300 shares during the quarter. MSC Industrial Direct accounts for approximately 2.1% of Sprucegrove Investment Management Ltd.’s portfolio, making the stock its 17th biggest position. Sprucegrove Investment Management Ltd.’s holdings in MSC Industrial Direct were worth $84,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MSM. BlackRock Inc. grew its stake in shares of MSC Industrial Direct by 11.5% during the first quarter. BlackRock Inc. now owns 4,365,395 shares of the industrial products company’s stock valued at $393,714,000 after acquiring an additional 448,798 shares in the last quarter. Yacktman Asset Management LP grew its stake in shares of MSC Industrial Direct by 0.9% during the first quarter. Yacktman Asset Management LP now owns 1,286,337 shares of the industrial products company’s stock valued at $116,015,000 after acquiring an additional 11,994 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of MSC Industrial Direct during the fourth quarter valued at about $103,484,000. Janus Henderson Group PLC grew its stake in shares of MSC Industrial Direct by 53.5% during the fourth quarter. Janus Henderson Group PLC now owns 1,066,203 shares of the industrial products company’s stock valued at $89,977,000 after acquiring an additional 371,453 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of MSC Industrial Direct by 1.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,017,305 shares of the industrial products company’s stock valued at $85,850,000 after acquiring an additional 16,345 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on MSC Industrial Direct from $89.00 to $94.00 and gave the stock a “hold” rating in a research note on Tuesday, April 13th. Zacks Investment Research downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Tuesday, May 11th. Wells Fargo & Company upgraded MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $105.00 price target for the company in a research note on Wednesday, April 14th. KeyCorp lifted their price target on MSC Industrial Direct from $96.00 to $102.00 and gave the stock an “overweight” rating in a research note on Monday, May 3rd. Finally, William Blair upgraded MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 13th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $91.67.

NYSE MSM traded up $0.15 during trading hours on Friday, reaching $91.88. The company’s stock had a trading volume of 16 shares, compared to its average volume of 411,441. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.18 and a current ratio of 2.14. The company has a 50-day moving average of $92.06. MSC Industrial Direct Co., Inc. has a 52 week low of $60.09 and a 52 week high of $96.23. The company has a market cap of $5.14 billion, a PE ratio of 27.38 and a beta of 1.11.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, April 6th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01. MSC Industrial Direct had a net margin of 5.97% and a return on equity of 21.19%. The firm had revenue of $774.00 million for the quarter, compared to analysts’ expectations of $778.77 million. During the same quarter last year, the company posted $1.00 earnings per share. MSC Industrial Direct’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 4.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 27th. Stockholders of record on Tuesday, April 13th were issued a dividend of $0.75 per share. The ex-dividend date was Monday, April 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.27%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 63.29%.

In other news, SVP Steve Armstrong sold 23,483 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, April 21st. The stock was sold at an average price of $90.10, for a total transaction of $2,115,818.30. Following the sale, the senior vice president now owns 13,180 shares of the company’s stock, valued at $1,187,518. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Louise K. Goeser sold 10,600 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, May 18th. The shares were sold at an average price of $94.04, for a total value of $996,824.00. Following the sale, the director now directly owns 18,244 shares in the company, valued at approximately $1,715,665.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,168 shares of company stock worth $4,832,563. Corporate insiders own 28.44% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include 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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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