Renaissance Technologies LLC Has $34.29 Million Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Renaissance Technologies LLC boosted its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 459,100 shares of the industrial products company's stock after purchasing an additional 54,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.82% of MSC Industrial Direct worth $34,290,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of MSC Industrial Direct in the 4th quarter worth approximately $25,000. Allworth Financial LP lifted its stake in MSC Industrial Direct by 412.0% in the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock valued at $35,000 after buying an additional 342 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 167 shares during the period. Synergy Asset Management LLC acquired a new position in shares of MSC Industrial Direct during the fourth quarter valued at $36,000. Finally, V Square Quantitative Management LLC grew its position in shares of MSC Industrial Direct by 77.0% during the fourth quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company's stock worth $40,000 after acquiring an additional 231 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM traded up $0.90 during trading hours on Thursday, hitting $76.74. 126,412 shares of the company's stock were exchanged, compared to its average volume of 629,517. The company's 50-day moving average price is $78.19 and its 200-day moving average price is $80.67. MSC Industrial Direct Co., Inc. has a 1-year low of $68.10 and a 1-year high of $94.31. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 18.31 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $908.30 million. During the same quarter last year, the company earned $1.18 earnings per share. The firm's revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 89.71%.

Analyst Upgrades and Downgrades

MSM has been the subject of a number of analyst reports. Robert W. Baird reduced 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. Loop Capital decreased their price objective on shares of 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, Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $82.20.

Insider Activity at MSC Industrial Direct

In related 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 completion of the acquisition, the director now directly owns 1,951,725 shares in the company, valued at approximately $136,171,853.25. This trade represents a 1.44 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.30% of the stock is currently owned by insiders.

MSC Industrial Direct 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.