Millennium Management LLC Has $27.40 Million Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Millennium Management LLC raised its position in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 138.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 366,792 shares of the industrial products company's stock after buying an additional 212,730 shares during the period. Millennium Management LLC owned 0.66% of MSC Industrial Direct worth $27,396,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MSM. Headlands Technologies LLC bought a new position in MSC Industrial Direct in the 4th quarter worth approximately $25,000. Allworth Financial LP boosted its position in MSC Industrial Direct by 412.0% in the 4th quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock valued at $35,000 after buying an additional 342 shares during the last quarter. UMB Bank n.a. boosted its position in MSC Industrial Direct by 54.0% in the 4th quarter. UMB Bank n.a. now owns 476 shares of the industrial products company's stock valued at $36,000 after buying an additional 167 shares during the last quarter. Synergy Asset Management LLC bought a new position in MSC Industrial Direct in the 4th quarter valued at $36,000. Finally, V Square Quantitative Management LLC boosted its position in MSC Industrial Direct by 77.0% in the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company's stock valued at $40,000 after buying an additional 231 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on MSM. Robert W. Baird decreased their price objective on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. Loop Capital decreased their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Finally, Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Seven investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $82.20.

Insider Buying and Selling

In other MSC Industrial Direct news, Director Mitchell Jacobson acquired 27,642 shares of the company's stock in a transaction that occurred on 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 now owns 1,951,725 shares of the company's stock, valued at $136,171,853.25. This represents a 1.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 18.30% of the stock is currently owned by company insiders.

MSC Industrial Direct Stock Performance

MSM stock opened at $81.86 on Tuesday. The business's fifty day moving average is $76.96 and its 200-day moving average is $79.91. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. The company has a market cap of $4.56 billion, a P/E ratio of 19.54 and a beta of 0.90. MSC Industrial Direct Co., Inc. has a twelve month low of $68.10 and a twelve month high of $92.77.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The company had revenue of $891.70 million for the quarter, compared to the consensus estimate of $908.30 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 EPS. Equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.15%. The ex-dividend date was Wednesday, April 9th. MSC Industrial Direct's payout ratio is presently 89.71%.

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.

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