AQR Capital Management LLC Cuts Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

AQR Capital Management LLC decreased its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 47.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,470 shares of the industrial products company's stock after selling 248,014 shares during the quarter. AQR Capital Management LLC owned about 0.48% of MSC Industrial Direct worth $19,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MSM. Headlands Technologies LLC purchased a new position in shares of MSC Industrial Direct during the fourth quarter worth $25,000. Allworth Financial LP raised its stake in shares of MSC Industrial Direct by 412.0% during the 4th quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock valued at $35,000 after buying an additional 342 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in shares of MSC Industrial Direct in the fourth quarter worth about $36,000. UMB Bank n.a. raised its position in MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 167 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in MSC Industrial Direct by 77.0% in the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company's stock worth $40,000 after purchasing an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

NYSE MSM traded up $0.09 during trading hours on Friday, hitting $76.11. 311,810 shares of the company's stock traded hands, compared to its average volume of 632,161. The company has a market capitalization of $4.24 billion, a PE ratio of 18.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91. MSC Industrial Direct Co., Inc. has a 52-week low of $68.10 and a 52-week high of $94.31. The firm's 50-day moving average is $76.89 and its 200-day moving average is $79.96.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $891.70 million during the quarter, compared to analysts' expectations of $908.30 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The business's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share. Equities analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were paid a dividend of $0.85 per share. The ex-dividend date was Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.47%. MSC Industrial Direct's dividend payout ratio (DPR) is 89.71%.

Insider Transactions at MSC Industrial Direct

In related news, Director Mitchell Jacobson purchased 27,642 shares of MSC Industrial Direct stock in a transaction dated Tuesday, April 8th. The shares were acquired at an average cost of $69.77 per share, with a total value of $1,928,582.34. Following the purchase, the director now owns 1,951,725 shares of the company's stock, valued at approximately $136,171,853.25. The trade was a 1.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 18.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MSM shares. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Loop Capital dropped their price target on shares of MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. Finally, Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Seven analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $82.20.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's 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.