Mirae Asset Global Investments Co. Ltd. Has $2.83 Million Stake in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Mirae Asset Global Investments Co. Ltd. raised its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 11.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,445 shares of the industrial products company's stock after purchasing an additional 3,649 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of MSC Industrial Direct worth $2,831,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSM. Y Intercept Hong Kong Ltd purchased a new position in MSC Industrial Direct in the fourth quarter valued at about $215,000. Bank of New York Mellon Corp grew its stake in MSC Industrial Direct by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 793,184 shares of the industrial products company's stock valued at $59,243,000 after purchasing an additional 70,076 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in MSC Industrial Direct in the fourth quarter valued at about $920,000. Charles Schwab Investment Management Inc. grew its stake in 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. Finally, Raymond James Financial Inc. purchased a new position in MSC Industrial Direct in the fourth quarter valued at about $4,871,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MSM. 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. JPMorgan Chase & Co. upgraded MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a research note on Tuesday, May 27th. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research note on Sunday, April 6th. Finally, Loop Capital increased 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. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MSC Industrial Direct presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.33.

Insider Buying and Selling at MSC Industrial Direct

In related news, Director Mitchell Jacobson bought 27,642 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the transaction, the director directly owned 1,951,725 shares of the company's stock, valued at $136,171,853.25. This represents a 1.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 18.30% of the company's stock.

MSC Industrial Direct Stock Performance

MSC Industrial Direct stock traded up $0.36 during trading hours on Friday, hitting $89.97. The stock had a trading volume of 706,491 shares, compared to its average volume of 618,461. The company has a 50-day moving average of $81.07 and a two-hundred day moving average of $79.50. The company has a quick ratio of 0.88, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.01 billion, a PE ratio of 25.42 and a beta of 0.87. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $90.85.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. The firm had revenue of $971.15 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. On average, equities research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.40 annualized dividend and a dividend yield of 3.78%. MSC Industrial Direct's dividend payout ratio is currently 96.05%.

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.