Ceera Investments LLC raised its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,241 shares of the industrial products company's stock after buying an additional 2,893 shares during the period. Ceera Investments LLC's holdings in MSC Industrial Direct were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the stock. Aviance Capital Partners LLC bought a new stake in shares of MSC Industrial Direct during the first quarter valued at approximately $234,000. Teacher Retirement System of Texas raised its position in MSC Industrial Direct by 19.2% during the 1st quarter. Teacher Retirement System of Texas now owns 74,852 shares of the industrial products company's stock valued at $5,814,000 after purchasing an additional 12,046 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its holdings in shares of MSC Industrial Direct by 4.5% in the 1st quarter. Lawson Kroeker Investment Management Inc. NE now owns 75,961 shares of the industrial products company's stock worth $5,900,000 after buying an additional 3,254 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of MSC Industrial Direct by 11.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,445 shares of the industrial products company's stock worth $2,831,000 after buying an additional 3,649 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in shares of MSC Industrial Direct by 4.6% during the first quarter. GHP Investment Advisors Inc. now owns 31,029 shares of the industrial products company's stock valued at $2,410,000 after buying an additional 1,363 shares during the period. 79.26% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
MSM has been the topic of several recent research reports. Robert W. Baird increased their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday. Stephens increased their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday. Industrial Alliance Securities set a $89.00 price objective on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and increased their target price for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. Finally, Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.33.
Read Our Latest Analysis on MSC Industrial Direct
MSC Industrial Direct Stock Up 0.4%
MSC Industrial Direct stock opened at $89.97 on Friday. The business's 50-day simple moving average is $81.07 and its two-hundred day simple moving average is $79.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.88 and a current ratio of 1.92. The company has a market cap of $5.01 billion, a PE ratio of 25.42 and a beta of 0.87. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $90.85.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its 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. The firm had revenue of $971.15 million during the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The company's revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. Equities analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.
MSC Industrial Direct Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is 89.71%.
Insiders Place Their Bets
In other news, Director Mitchell Jacobson acquired 27,642 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were acquired at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the purchase, the director directly owned 1,951,725 shares of the company's stock, valued at $136,171,853.25. This trade represents a 1.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.30% of the company's stock.
MSC Industrial Direct Company Profile
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Free Report)
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.
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