Nuveen LLC Invests $8.11 Million in 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 position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the first quarter, according to its most recent 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 approximately 0.19% of MSC Industrial Direct as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Beverly Hills Private Wealth LLC increased its holdings in MSC Industrial Direct by 4.5% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,755 shares of the industrial products company's stock worth $292,000 after purchasing an additional 163 shares in the last quarter. Parallel Advisors LLC grew its stake in MSC Industrial Direct by 6.1% in the first quarter. Parallel Advisors LLC now owns 3,792 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 217 shares during the period. GAMMA Investing LLC grew its stake in MSC Industrial Direct by 47.1% in the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 218 shares during the period. UMB Bank n.a. grew its stake in MSC Industrial Direct by 51.1% in the first quarter. UMB Bank n.a. now owns 719 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 243 shares during the period. Finally, Investment Management Corp VA ADV grew its stake in MSC Industrial Direct by 207.8% in the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 268 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Kimberly Shacklett sold 2,130 shares of the company's 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 completion of the transaction, the senior vice president directly owned 14,657 shares in the company, valued at approximately $1,348,444. This represents a 12.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.30% of the company's stock.

MSC Industrial Direct Stock Performance

MSC Industrial Direct stock traded down $0.51 during mid-day trading on Thursday, reaching $91.20. 215,224 shares of the company's stock were exchanged, compared to its average volume of 589,686. The business's fifty day simple moving average is $87.29 and its 200 day simple moving average is $81.66. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $92.68. The firm has a market capitalization of $5.08 billion, a PE ratio of 25.74 and a beta of 0.92.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. The firm had revenue of $971.15 million for 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 was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS. On average, sell-side analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio is presently 96.05%.

Wall Street Analyst Weigh In

MSM has been the subject of a number of research reports. 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, July 2nd. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $73.00 to $89.00 in a research note on Tuesday, May 27th. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research report on Tuesday, May 27th. Loop Capital lifted their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird lifted their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.