Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM)

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. lifted its stake in MSC Industrial Direct by 127.5% during the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock worth $90,137,000 after purchasing an additional 676,238 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of MSC Industrial Direct during the 4th quarter valued at about $35,576,000. Norges Bank bought a new stake in MSC Industrial Direct in the 4th quarter worth approximately $34,735,000. First Trust Advisors LP boosted its stake in 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 worth $148,443,000 after buying an additional 448,708 shares in the last quarter. Finally, Millennium Management LLC grew its position in 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 valued at $27,396,000 after acquiring an additional 212,730 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Trading Up 0.4%

MSM traded up $0.36 during trading on Thursday, hitting $89.97. 706,491 shares of the stock traded hands, compared to its average volume of 619,160. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.88. The firm has a market capitalization of $5.01 billion, a P/E ratio of 25.42 and a beta of 0.87. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $90.85. The firm has a 50-day moving average of $80.58 and a 200 day moving average of $79.38.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The business had revenue of $971.15 million during the quarter, compared to analysts' expectations of $969.72 million. During the same quarter last year, the business posted $1.33 EPS. The business's revenue was down .8% on a year-over-year basis. Equities research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.78%. The ex-dividend date is Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 89.71%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MSM shares. Industrial Alliance Securities set a $89.00 price objective on shares of MSC Industrial Direct in a report on Tuesday, May 27th. Robert W. Baird boosted their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday. Stephens raised their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday. Loop Capital lifted their price objective on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MSC Industrial Direct presently has a consensus rating of "Moderate Buy" and an average price target of $90.33.

Insider Transactions at MSC Industrial Direct

In related news, Director Mitchell Jacobson bought 27,642 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was purchased at an average cost of $69.77 per share, with a total value of $1,928,582.34. Following the transaction, the director owned 1,951,725 shares in the company, valued at approximately $136,171,853.25. This trade represents a 1.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.30% of the company's stock.

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.