Invesco Ltd. Has $96.34 Million Holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• Invesco Ltd. has increased its stake in MSC Industrial Direct by 2.8%, holding approximately $96.34 million in the company as of its latest SEC filing.
• A number of institutional investors significantly increased their stakes in MSC Industrial Direct, with Victory Capital Management and Mackenzie Financial Corp growing their positions by 445.4% and 6,108.1%, respectively.
• MSC Industrial Direct recently reported quarterly earnings of $1.08 per share, exceeding analysts' expectations, while also declaring a quarterly dividend of $0.85, translating to an annual yield of 3.9%.

Invesco Ltd. increased its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,240,418 shares of the industrial products company's stock after purchasing an additional 33,607 shares during the period. Invesco Ltd. owned approximately 2.23% of MSC Industrial Direct worth $96,343,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MSM. Victory Capital Management Inc. grew its stake in shares of MSC Industrial Direct by 445.4% during the first 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 during the period. Mackenzie Financial Corp grew its stake in shares of MSC Industrial Direct by 6,108.1% during the first quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company's stock worth $39,298,000 after purchasing an additional 497,810 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth $35,576,000. First Trust Advisors LP grew its stake in shares of MSC Industrial Direct by 29.2% during the fourth 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. Finally, Millennium Management LLC grew its stake in shares of MSC Industrial Direct by 138.1% during the fourth quarter. Millennium Management LLC now owns 366,792 shares of the industrial products company's stock worth $27,396,000 after purchasing an additional 212,730 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was 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 in the company, 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 SEC, which is available at the SEC website. 18.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MSM shares. Robert W. Baird lifted their price objective 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 target price on 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 boosted their target price for the company from $73.00 to $89.00 in a research note on Tuesday, May 27th. Loop Capital boosted their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research note on Wednesday, July 2nd. Finally, Stephens boosted their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.33.

MSC Industrial Direct Stock Down 0.7%

NYSE:MSM opened at $87.00 on Friday. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 24.58 and a beta of 0.92. The stock has a 50-day moving average price of $86.10 and a two-hundred day moving average price of $81.19. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $92.68. 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 (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, beating analysts' consensus estimates of $1.03 by $0.05. The company had revenue of $971.15 million for the quarter, compared to analyst estimates 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 quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 earnings per share. As a group, equities analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's payout ratio is 96.05%.

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.

Want to see what other hedge funds are holding MSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.