MSC Industrial Direct Company, Inc. $MSM Stock Position Raised by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 27.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,748 shares of the industrial products company's stock after acquiring an additional 11,580 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of MSC Industrial Direct worth $4,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MSM. First Horizon Corp increased its position in shares of MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company's stock worth $37,000 after acquiring an additional 201 shares in the last quarter. Hantz Financial Services Inc. grew its position in MSC Industrial Direct by 42.4% during the 4th quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company's stock worth $43,000 after purchasing an additional 153 shares in the last quarter. Quarry LP raised its stake in MSC Industrial Direct by 71.7% during the 3rd quarter. Quarry LP now owns 503 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 210 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of MSC Industrial Direct in the fourth quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of MSC Industrial Direct by 130.4% during the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company's stock worth $49,000 after purchasing an additional 326 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Price Performance

NYSE MSM opened at $123.89 on Friday. The stock has a 50-day simple moving average of $120.31 and a 200 day simple moving average of $103.86. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $130.46. The stock has a market capitalization of $6.92 billion, a PE ratio of 29.93 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $1.08 EPS. The company's revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.49 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a dividend of $0.87 per share. The ex-dividend date was Wednesday, July 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. MSC Industrial Direct's payout ratio is currently 84.06%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group set a $130.00 price objective on shares of MSC Industrial Direct in a research report on Wednesday, July 1st. Weiss Ratings raised MSC Industrial Direct from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 7th. DA Davidson upped their price target on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Rothschild & Co Redburn began coverage on MSC Industrial Direct in a research note on Monday, July 13th. They issued a "buy" rating and a $155.00 price objective on the stock. Finally, Zacks Research upgraded MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.43.

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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