Ameriprise Financial Inc. Has $14.95 Million Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Ameriprise Financial Inc. raised its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,229 shares of the industrial products company's stock after acquiring an additional 32,499 shares during the period. Ameriprise Financial Inc. owned about 0.36% of MSC Industrial Direct worth $14,954,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in shares of MSC Industrial Direct by 6.0% in the fourth quarter. American Century Companies Inc. now owns 3,418,260 shares of the industrial products company's stock valued at $255,310,000 after purchasing an additional 193,860 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of MSC Industrial Direct by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock valued at $148,443,000 after purchasing an additional 448,708 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of MSC Industrial Direct by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,693,256 shares of the industrial products company's stock valued at $126,469,000 after purchasing an additional 126,218 shares in the last quarter. Boston Partners lifted its holdings in shares of MSC Industrial Direct by 7.2% in the fourth quarter. Boston Partners now owns 1,434,415 shares of the industrial products company's stock valued at $107,168,000 after purchasing an additional 96,335 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of MSC Industrial Direct by 127.5% in the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock valued at $90,137,000 after purchasing an additional 676,238 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mitchell Jacobson bought 27,642 shares of the firm's stock in a transaction dated Tuesday, April 8th. The shares were bought at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the transaction, the director now owns 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 the SEC website. Company insiders own 18.30% of the company's stock.

MSC Industrial Direct Stock Down 0.4%

MSM traded down $0.35 on Friday, hitting $78.71. 353,418 shares of the company were exchanged, compared to its average volume of 640,574. MSC Industrial Direct Co., Inc. has a 12 month low of $68.10 and a 12 month high of $90.81. The company has a market cap of $4.39 billion, a PE ratio of 18.78 and a beta of 0.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93. The stock's fifty day moving average is $77.18 and its 200-day moving average is $79.88.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The firm 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 business's revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 earnings per share. Equities research analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Wednesday, April 9th. MSC Industrial Direct's dividend payout ratio (DPR) is presently 89.71%.

Wall Street Analysts Forecast Growth

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

MSC Industrial Direct 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.