Ontario Teachers Pension Plan Board Has $3.91 Million Holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in MSC Industrial Direct by 53.6%, owning 50,361 shares valued at approximately $3.9 million as of the latest reporting period.
• Several institutional investors have made significant adjustments to their investments in MSC Industrial Direct, with Mackenzie Financial Corp raising its stake by 6,108.1% in the first quarter.
• The company reported earnings of $1.08 per share, exceeding analyst expectations, with a revenue of $971.15 million, although this marks a 0.8% decline from the previous year.

Ontario Teachers Pension Plan Board raised its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 53.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 50,361 shares of the industrial products company's stock after acquiring an additional 17,579 shares during the period. Ontario Teachers Pension Plan Board owned about 0.09% of MSC Industrial Direct worth $3,912,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of MSC Industrial Direct by 47.1% in the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 218 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of MSC Industrial Direct by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company's stock valued at $463,000 after purchasing an additional 337 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of MSC Industrial Direct by 4.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock valued at $705,000 after purchasing an additional 388 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of MSC Industrial Direct by 895.0% in the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 537 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of MSC Industrial Direct in the 1st quarter valued at about $897,000. Institutional investors own 79.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Loop Capital upped their target price on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and increased their price target for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Stephens increased their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Robert W. Baird increased their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.33.

MSC Industrial Direct Stock Performance

Shares of NYSE:MSM traded down $1.50 on Monday, reaching $84.60. 56,387 shares of the company's stock were exchanged, compared to its average volume of 607,993. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 23.90 and a beta of 0.92. The company has a fifty day moving average of $85.47 and a 200-day moving average of $81.02. MSC Industrial Direct Company, Inc. has a twelve month low of $68.10 and a twelve month high of $92.68.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. On average, research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 annualized dividend and a yield of 4.0%. MSC Industrial Direct's dividend payout ratio is presently 96.05%.

Insider Buying and Selling

In other news, SVP Kimberly Shacklett sold 2,130 shares of MSC Industrial Direct stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $195,960.00. Following the transaction, the senior vice president owned 14,657 shares in the company, valued at approximately $1,348,444. The trade was a 12.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 18.30% of the stock is currently owned by insiders.

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.