Alberta Investment Management Corp Makes New $10.49 Million Investment in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• Alberta Investment Management Corp acquired 135,000 shares of MSC Industrial Direct valued at approximately $10.5 million, increasing their ownership to 0.24% of the company.
• MSC Industrial Direct's recent quarterly earnings report showed earnings per share (EPS) of $1.08, beating estimates, while revenue fell 0.8% year-over-year.
• The company announced a quarterly dividend of $0.85 per share, representing a 4.0% yield and a payout ratio of 96.05%.

Alberta Investment Management Corp purchased a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 135,000 shares of the industrial products company's stock, valued at approximately $10,485,000. Alberta Investment Management Corp owned about 0.24% of MSC Industrial Direct as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MSM. Headlands Technologies LLC bought a new position in shares of MSC Industrial Direct during the fourth quarter worth about $25,000. Investment Management Corp VA ADV lifted its position in shares of MSC Industrial Direct by 207.8% during the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock worth $31,000 after purchasing an additional 268 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of MSC Industrial Direct during the first quarter worth about $32,000. Farther Finance Advisors LLC lifted its position in shares of MSC Industrial Direct by 895.0% during the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock worth $46,000 after purchasing an additional 537 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in MSC Industrial Direct by 47.1% in the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM traded down $0.60 during midday trading on Wednesday, hitting $85.51. 102,576 shares of the company's stock were exchanged, compared to its average volume of 613,571. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. The stock's 50 day moving average price is $85.24 and its 200-day moving average price is $80.96. The firm has a market cap of $4.76 billion, a P/E ratio of 24.13 and a beta of 0.92. MSC Industrial Direct Company, Inc. has a twelve month low of $68.10 and a twelve month high of $92.68.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The firm had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. During the same quarter in the previous year, the company earned $1.33 earnings per share. The firm's quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 annualized dividend and a yield of 4.0%. MSC Industrial Direct's payout ratio is presently 96.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Robert W. Baird upped their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Stephens upped their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their target price for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Loop Capital upped their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Finally, Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a report on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.33.

Insider Buying and Selling

In related news, SVP Kimberly Shacklett sold 2,130 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $195,960.00. Following the sale, the senior vice president owned 14,657 shares of the company's stock, valued at $1,348,444. The trade was a 12.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.30% of the stock is currently owned by insiders.

About MSC Industrial Direct

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.