Franklin Resources Inc. Buys 12,466 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Franklin Resources Inc. grew its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 29.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,369 shares of the industrial products company's stock after buying an additional 12,466 shares during the quarter. Franklin Resources Inc. owned about 0.10% of MSC Industrial Direct worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MSM. American Century Companies Inc. grew its holdings in MSC Industrial Direct by 6.0% during the fourth quarter. American Century Companies Inc. now owns 3,418,260 shares of the industrial products company's stock worth $255,310,000 after acquiring an additional 193,860 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of MSC Industrial Direct by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,693,256 shares of the industrial products company's stock valued at $126,469,000 after purchasing an additional 126,218 shares in the last quarter. Boston Partners grew its stake in shares of MSC Industrial Direct by 7.2% in the 4th quarter. Boston Partners now owns 1,434,415 shares of the industrial products company's stock worth $107,168,000 after purchasing an additional 96,335 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in MSC Industrial Direct by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 793,184 shares of the industrial products company's stock valued at $59,243,000 after purchasing an additional 70,076 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in MSC Industrial Direct by 20.5% during the fourth quarter. Boston Trust Walden Corp now owns 618,103 shares of the industrial products company's stock valued at $46,166,000 after purchasing an additional 105,265 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Stock Up 0.6 %

Shares of MSM stock traded up $0.49 on Thursday, reaching $76.33. 55,075 shares of the company's stock traded hands, compared to its average volume of 629,221. The business's 50 day moving average price is $78.19 and its two-hundred day moving average price is $80.67. The company has a market capitalization of $4.25 billion, a P/E ratio of 18.24 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93. MSC Industrial Direct Co., Inc. has a 12-month low of $68.10 and a 12-month high of $94.31.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The business had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. During the same period in the prior year, the firm earned $1.18 earnings per share. The firm's revenue was down 4.7% compared to the same quarter last year. On average, equities analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct's dividend payout ratio is currently 89.71%.

Insider Transactions at MSC Industrial Direct

In other news, Director Mitchell Jacobson purchased 27,642 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the purchase, the director now owns 1,951,725 shares in the company, valued at $136,171,853.25. This represents a 1.44 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on MSM shares. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Loop Capital reduced their target price on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a report on Friday, April 4th. Finally, Robert W. Baird decreased their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MSC Industrial Direct has an average rating of "Hold" and an average target price of $82.20.

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.