CANADA LIFE ASSURANCE Co Acquires 3,735 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

CANADA LIFE ASSURANCE Co lifted its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 11.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,744 shares of the industrial products company's stock after purchasing an additional 3,735 shares during the period. CANADA LIFE ASSURANCE Co owned 0.07% of MSC Industrial Direct worth $2,819,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of MSC Industrial Direct by 127.5% in the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock valued at $90,137,000 after acquiring an additional 676,238 shares in the last quarter. Norges Bank purchased a new position in MSC Industrial Direct in the 4th quarter worth approximately $34,735,000. American Century Companies Inc. boosted its stake in MSC Industrial Direct by 6.0% in the 4th quarter. American Century Companies Inc. now owns 3,418,260 shares of the industrial products company's stock worth $255,310,000 after purchasing an additional 193,860 shares during the period. Royce & Associates LP grew its holdings in MSC Industrial Direct by 76.0% during the 4th quarter. Royce & Associates LP now owns 424,437 shares of the industrial products company's stock valued at $31,701,000 after buying an additional 183,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of MSC Industrial Direct by 8.1% during the fourth 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 buying an additional 126,218 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

Insider Transactions at MSC Industrial Direct

In other news, Director Mitchell Jacobson acquired 27,642 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were bought at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the purchase, the director now directly owns 1,951,725 shares in the company, valued at $136,171,853.25. This trade represents a 1.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.30% of the company's stock.

MSC Industrial Direct Trading Up 1.5 %

Shares of MSC Industrial Direct stock traded up $1.13 on Friday, reaching $77.02. The company had a trading volume of 109,494 shares, compared to its average volume of 636,695. The firm's 50-day moving average price is $77.16 and its two-hundred day moving average price is $80.20. MSC Industrial Direct Co., Inc. has a 1 year low of $68.10 and a 1 year high of $94.31. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 18.38 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 announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $908.30 million. During the same quarter last year, the firm earned $1.18 earnings per share. The firm's quarterly revenue was down 4.7% compared to the same quarter last year. As a group, research analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a $0.85 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.41%. MSC Industrial Direct's dividend payout ratio (DPR) is 89.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wolfe Research raised shares of MSC Industrial Direct to a "strong-buy" rating in a research note 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 on the stock in a report on Friday, April 4th. Finally, Robert W. Baird dropped their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Seven analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $82.20.

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.