Nuveen LLC Buys Shares of 104,420 MSC Industrial Direct Company, Inc. $MSM

Key Points

• Nuveen LLC acquired 104,420 shares of MSC Industrial Direct Company, Inc. valued at approximately $8.1 million, representing 0.19% ownership of the company.
• Analysts have raised their target prices for MSC Industrial Direct, with a consensus rating of "Moderate Buy" and an average target price of $90.33.
• The company recently announced a quarterly dividend of $0.85, yielding 3.7%, with a high dividend payout ratio of 96.05%.

Nuveen LLC bought a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 104,420 shares of the industrial products company's stock, valued at approximately $8,110,000. Nuveen LLC owned 0.19% of MSC Industrial Direct as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the business. CCM Investment Group LLC purchased a new position in shares of MSC Industrial Direct during the first quarter valued at approximately $649,000. Invesco Ltd. grew its stake in MSC Industrial Direct by 2.8% in the first quarter. Invesco Ltd. now owns 1,240,418 shares of the industrial products company's stock worth $96,343,000 after purchasing an additional 33,607 shares during the period. WealthPLAN Partners LLC grew its stake in MSC Industrial Direct by 3.7% in the first quarter. WealthPLAN Partners LLC now owns 59,883 shares of the industrial products company's stock worth $4,651,000 after purchasing an additional 2,138 shares during the period. WealthPlan Investment Management LLC grew its stake in MSC Industrial Direct by 3.7% in the first quarter. WealthPlan Investment Management LLC now owns 125,983 shares of the industrial products company's stock worth $9,785,000 after purchasing an additional 4,536 shares during the period. Finally, Deutsche Bank AG grew its stake in MSC Industrial Direct by 14.5% in the first quarter. Deutsche Bank AG now owns 4,385 shares of the industrial products company's stock worth $341,000 after purchasing an additional 555 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $92.00, for a total value of $195,960.00. Following the transaction, the senior vice president owned 14,657 shares of the company's stock, valued at approximately $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 18.30% of the company's stock.

MSC Industrial Direct Stock Performance

Shares of NYSE:MSM traded down $0.84 during midday trading on Friday, reaching $90.13. 468,213 shares of the company's stock traded hands, compared to its average volume of 368,171. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 25.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $92.68. The stock has a 50 day moving average of $87.65 and a 200 day moving average of $81.80.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $971.15 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. As a group, 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 company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were issued a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 3.8%. MSC Industrial Direct's dividend payout ratio is currently 96.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a research note on Tuesday, May 27th. Loop Capital upped their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Stephens upped their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Robert W. Baird upped their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $90.33.

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.