Alberta Investment Management Corp Purchases New Shares 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 acquired a new position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 135,000 shares of the industrial products company's stock, valued at approximately $10,485,000. Alberta Investment Management Corp owned 0.24% of MSC Industrial Direct as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MSM. First Trust Advisors LP boosted its stake in MSC Industrial Direct by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock worth $148,443,000 after purchasing an additional 448,708 shares during the period. Invesco Ltd. grew its stake in MSC Industrial Direct by 127.5% during the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock valued at $90,137,000 after acquiring an additional 676,238 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in MSC Industrial Direct by 10.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,079,474 shares of the industrial products company's stock valued at $80,621,000 after acquiring an additional 102,660 shares during the last quarter. Geode Capital Management LLC lifted its stake in MSC Industrial Direct by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,077,450 shares of the industrial products company's stock worth $80,493,000 after purchasing an additional 20,974 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in MSC Industrial Direct by 445.4% in the 1st quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company's stock worth $60,567,000 after purchasing an additional 636,827 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Insider Transactions at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total value of $195,960.00. Following the sale, the senior vice president directly owned 14,657 shares of the company's stock, valued at $1,348,444. This represents a 12.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.30% of the company's stock.

MSC Industrial Direct Stock Performance

Shares of NYSE:MSM traded down $1.56 on Friday, hitting $85.06. 477,635 shares of the company were exchanged, compared to its average volume of 664,636. The firm has a market capitalization of $4.74 billion, a P/E ratio of 24.03 and a beta of 0.92. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Company, Inc. has a 1-year low of $68.10 and a 1-year high of $92.68. The stock's 50 day moving average price is $85.06 and its 200 day moving average price is $80.90.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $971.15 million during the quarter, compared to analysts' expectations of $969.72 million. During the same quarter in the previous year, the firm posted $1.33 EPS. The firm's revenue was down .8% compared to the same quarter last year. Sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 4.0%. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

Analysts Set New Price Targets

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

MSC Industrial Direct Company 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.