MSC Industrial Direct Company, Inc. $MSM Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in MSC Industrial Direct Company by 6.8% in the first quarter, owning approximately $283.51 million in shares.
• MSC Industrial Direct reported quarterly earnings of $1.08 per share, beating analyst estimates, though revenue decreased by 0.8% year-over-year.
• The company's latest quarterly dividend is $0.85 per share, representing a 3.9% dividend yield, with a payout ratio of 96.05%.

American Century Companies Inc. lifted its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,650,221 shares of the industrial products company's stock after purchasing an additional 231,961 shares during the period. American Century Companies Inc. owned about 6.55% of MSC Industrial Direct worth $283,513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of MSM. LPL Financial LLC increased its stake in MSC Industrial Direct by 16.2% during the 4th quarter. LPL Financial LLC now owns 21,594 shares of the industrial products company's stock worth $1,613,000 after buying an additional 3,008 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in MSC Industrial Direct during the 4th quarter worth approximately $4,871,000. Treasurer of the State of North Carolina grew its position in shares of MSC Industrial Direct by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 20,179 shares of the industrial products company's stock valued at $1,507,000 after purchasing an additional 130 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of MSC Industrial Direct by 57.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,756 shares of the industrial products company's stock valued at $206,000 after purchasing an additional 1,007 shares in the last quarter. Finally, Jump Financial LLC grew its position in shares of MSC Industrial Direct by 182.5% in the fourth quarter. Jump Financial LLC now owns 78,588 shares of the industrial products company's stock valued at $5,870,000 after purchasing an additional 50,770 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Stock Performance

Shares of MSM stock traded up $1.9370 during mid-day trading on Tuesday, hitting $88.9670. 595,758 shares of the stock were exchanged, compared to its average volume of 599,837. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $92.68. The stock's fifty day simple moving average is $86.20 and its two-hundred day simple moving average is $81.22. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 25.13 and a beta of 0.92.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (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 firm had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. During the same quarter last year, the company posted $1.33 earnings per share. The business's revenue was down .8% on a year-over-year basis. On average, analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a $0.85 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 3.8%. MSC Industrial Direct's dividend payout ratio (DPR) is presently 96.05%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MSM. Stephens upped their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Robert W. Baird upped their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price objective on MSC Industrial Direct in a report on Tuesday, May 27th. Loop Capital upped their price objective 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, JPMorgan Chase & Co. upgraded MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.33.

Insider Buying and Selling

In related news, SVP Kimberly Shacklett sold 2,130 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $92.00, for a total value of $195,960.00. Following the completion of the sale, the senior vice president owned 14,657 shares in the company, valued at $1,348,444. This trade represents 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 this link. 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.