First Trust Advisors LP Purchases 448,708 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

First Trust Advisors LP increased its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 29.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,987,455 shares of the industrial products company's stock after buying an additional 448,708 shares during the quarter. First Trust Advisors LP owned 3.56% of MSC Industrial Direct worth $148,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co lifted its stake in MSC Industrial Direct by 11.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 37,744 shares of the industrial products company's stock worth $2,819,000 after purchasing an additional 3,735 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of MSC Industrial Direct during the fourth quarter valued at $112,000. Marshall Wace LLP boosted its stake in shares of MSC Industrial Direct by 329.5% in the 4th quarter. Marshall Wace LLP now owns 145,147 shares of the industrial products company's stock valued at $10,841,000 after purchasing an additional 111,352 shares in the last quarter. Jump Financial LLC lifted its holdings in MSC Industrial Direct by 182.5% during the 4th quarter. Jump Financial LLC now owns 78,588 shares of the industrial products company's stock valued at $5,870,000 after purchasing an additional 50,770 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in MSC Industrial Direct by 109.3% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 32,782 shares of the industrial products company's stock valued at $2,448,000 after buying an additional 17,123 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MSM shares. Loop Capital lowered their target price on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a research note on Friday, April 4th. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Finally, Robert W. Baird cut their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research note 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 MarketBeat, the company has a consensus rating of "Hold" and an average price target of $82.20.

MSC Industrial Direct Trading Down 0.1 %

Shares of MSC Industrial Direct stock traded down $0.10 during trading on Friday, hitting $77.90. 65,275 shares of the company were exchanged, compared to its average volume of 634,878. The firm has a market capitalization of $4.34 billion, a P/E ratio of 18.58 and a beta of 0.89. The firm's fifty day moving average price is $77.64 and its 200 day moving average price is $80.37. 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 Co., Inc. has a 1-year low of $68.10 and a 1-year high of $94.31.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $891.70 million during the quarter, compared to the consensus estimate of $908.30 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The company's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 earnings per share. As a group, 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Wednesday, April 9th. MSC Industrial Direct's dividend payout ratio is presently 89.71%.

Insider Transactions at MSC Industrial Direct

In related news, Director Mitchell Jacobson bought 27,642 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were acquired at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the transaction, the director now owns 1,951,725 shares in the company, valued at $136,171,853.25. The trade was a 1.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 18.30% of the company's stock.

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.