TD Asset Management Inc lessened its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,575 shares of the industrial products company's stock after selling 2,890 shares during the period. TD Asset Management Inc owned 0.21% of MSC Industrial Direct worth $9,054,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. LPL Financial LLC raised its holdings in MSC Industrial Direct by 16.2% during the fourth quarter. LPL Financial LLC now owns 21,594 shares of the industrial products company's stock worth $1,613,000 after purchasing an additional 3,008 shares in the last quarter. Norges Bank acquired a new position in shares of MSC Industrial Direct in the 4th quarter valued at $34,735,000. Pictet Asset Management Holding SA raised its holdings in MSC Industrial Direct by 17.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,369 shares of the industrial products company's stock worth $476,000 after buying an additional 936 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of MSC Industrial Direct by 10.5% in the fourth quarter. Alliancebernstein L.P. now owns 278,690 shares of the industrial products company's stock worth $20,815,000 after buying an additional 26,414 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of MSC Industrial Direct by 29.7% in the fourth quarter. Franklin Resources Inc. now owns 54,369 shares of the industrial products company's stock worth $4,061,000 after acquiring an additional 12,466 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Robert W. Baird increased their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Stephens lifted their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a report on Tuesday, May 27th. Loop Capital increased 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, July 2nd. Finally, JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $73.00 to $89.00 in a research report on Tuesday, May 27th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.33.
Check Out Our Latest Research Report on MSC Industrial Direct
Insider Buying and Selling
In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the business's stock in a transaction on 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. The trade was a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.30% of the stock is currently owned by company insiders.
MSC Industrial Direct Stock Performance
MSM stock traded up $0.72 during midday trading on Tuesday, hitting $86.17. 85,069 shares of the company traded hands, compared to its average volume of 615,468. The business has a 50 day simple moving average of $85.20 and a 200-day simple moving average of $80.92. 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 twelve month low of $68.10 and a twelve month high of $92.68. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 24.34 and a beta of 0.92.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. During the same period in the previous year, the company earned $1.33 earnings per share. The company's quarterly revenue was down .8% compared to the same quarter last year. As a group, equities research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.
MSC Industrial Direct Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were given a $0.85 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 3.9%. MSC Industrial Direct's payout ratio is 96.05%.
About MSC Industrial Direct
(
Free Report)
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.
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