Wellington Management Group LLP Makes New $17.19 Million Investment in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Wellington Management Group LLP has made a new investment in MSC Industrial Direct by purchasing 221,280 shares valued at approximately $17.2 million, representing 0.40% ownership in the company.
• MSC Industrial Direct reported earnings of $1.08 per share for the last quarter, surpassing estimates, but saw a 0.8% decline in revenue year-over-year, totaling $971.15 million.
• The company announced a quarterly dividend of $0.85, with a 3.7% yield and a high dividend payout ratio of 96.05%.

Wellington Management Group LLP acquired a new position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 221,280 shares of the industrial products company's stock, valued at approximately $17,187,000. Wellington Management Group LLP owned approximately 0.40% of MSC Industrial Direct as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MSM. Victory Capital Management Inc. increased its position in shares of MSC Industrial Direct by 445.4% in the first quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company's stock worth $60,567,000 after acquiring an additional 636,827 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of MSC Industrial Direct by 6,108.1% in the first quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company's stock worth $39,298,000 after acquiring an additional 497,810 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of MSC Industrial Direct in the fourth quarter worth $35,576,000. Boston Partners increased its position in shares of MSC Industrial Direct by 22.9% in the first quarter. Boston Partners now owns 1,762,248 shares of the industrial products company's stock worth $136,867,000 after acquiring an additional 327,833 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in MSC Industrial Direct by 6.8% during the 1st quarter. American Century Companies Inc. now owns 3,650,221 shares of the industrial products company's stock valued at $283,513,000 after purchasing an additional 231,961 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Insider Buying and Selling

In related news, SVP Kimberly Shacklett sold 2,130 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 14,657 shares in the company, valued at $1,348,444. This trade represents a 12.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.30% of the stock is currently owned by corporate insiders.

MSC Industrial Direct Stock Performance

MSC Industrial Direct stock traded down $0.84 during midday trading on Monday, reaching $90.13. 468,213 shares of the stock traded hands, compared to its average volume of 367,700. 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 firm has a fifty day moving average price of $87.82 and a two-hundred day moving average price of $81.86. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 25.46 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $92.68.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings data 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. 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 the consensus estimate of $969.72 million. During the same period in the previous year, the firm posted $1.33 earnings per share. The business's revenue was down .8% on a year-over-year basis. On average, equities research analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.8%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on MSM. Robert W. Baird raised 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. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a report on Tuesday, May 27th. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their price target for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Loop Capital raised their price target 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. Finally, Stephens raised 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, MSC Industrial Direct has an average rating of "Moderate Buy" and a consensus price target of $90.33.

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.