Elo Mutual Pension Insurance Co Acquires Shares of 11,894 MSC Industrial Direct Company, Inc. $MSM

Key Points

• Elo Mutual Pension Insurance Co established a new position in MSC Industrial Direct (NYSE:MSM), buying 11,894 shares worth about $1.096 million during the third quarter, according to its latest 13F filing.
• Institutional ownership is high at 79.26%; notable moves include American Century boosting its stake to 3,743,021 shares, Norges Bank adding a new position (~$39.95M), and SG Capital increasing its holding 867% to 360,988 shares.
• MSC posted a quarter-beating EPS of $0.99 (vs. $0.95 est.) and revenue of $965.7M (up 4% YoY); the stock yields 3.8% after a $0.87 quarterly dividend and has a market cap of about $5.17B with a P/E near 25.3.

Elo Mutual Pension Insurance Co bought a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,894 shares of the industrial products company's stock, valued at approximately $1,096,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. lifted its position in MSC Industrial Direct by 2.5% during the second quarter. American Century Companies Inc. now owns 3,743,021 shares of the industrial products company's stock worth $318,232,000 after purchasing an additional 92,800 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. Mackenzie Financial Corp now owns 508,514 shares of the industrial products company's stock worth $43,234,000 after acquiring an additional 2,554 shares during the period. Norges Bank bought a new stake in shares of MSC Industrial Direct during the 2nd quarter worth approximately $39,950,000. Alliancebernstein L.P. boosted its position in shares of MSC Industrial Direct by 21.5% during the 2nd quarter. Alliancebernstein L.P. now owns 362,768 shares of the industrial products company's stock worth $30,843,000 after acquiring an additional 64,171 shares in the last quarter. Finally, SG Capital Management LLC increased its stake in MSC Industrial Direct by 867.0% in the third quarter. SG Capital Management LLC now owns 360,988 shares of the industrial products company's stock valued at $33,261,000 after acquiring an additional 323,659 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Trading Up 1.3%

MSM opened at $92.72 on Friday. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $96.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.73 and a quick ratio of 0.82. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 25.33 and a beta of 0.81. The company's 50 day moving average price is $88.99 and its two-hundred day moving average price is $88.41.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. MSC Industrial Direct had a net margin of 5.37% and a return on equity of 15.73%. The firm had revenue of $965.68 million during the quarter, compared to the consensus estimate of $962.52 million. During the same quarter last year, the firm earned $0.86 earnings per share. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $3.48 annualized dividend and a yield of 3.8%. MSC Industrial Direct's payout ratio is presently 95.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MSM shares. Robert W. Baird set a $94.00 target price on MSC Industrial Direct in a research note on Thursday, January 8th. Zacks Research downgraded MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of MSC Industrial Direct in a research report on Wednesday, January 28th. iA Financial set a $95.00 target price on MSC Industrial Direct in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $95.00 price target on shares of MSC Industrial Direct in a research note on Friday, February 6th. Nine investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $90.50.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc NYSE: MSM is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.

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