MSC Industrial Direct Co., Inc. (NYSE:MSM) Stock Position Lifted by Invesco Ltd.

Invesco Ltd. lifted its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 127.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,206,811 shares of the industrial products company's stock after acquiring an additional 676,238 shares during the period. Invesco Ltd. owned approximately 2.16% of MSC Industrial Direct worth $90,137,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MSM. Barclays PLC raised its stake in shares of MSC Industrial Direct by 36.9% during the third quarter. Barclays PLC now owns 25,490 shares of the industrial products company's stock valued at $2,195,000 after purchasing an additional 6,864 shares during the period. Norges Bank acquired a new position in MSC Industrial Direct in the 4th quarter worth $34,735,000. State of New Jersey Common Pension Fund D boosted its position in MSC Industrial Direct by 8.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 26,035 shares of the industrial products company's stock valued at $1,945,000 after buying an additional 2,136 shares during the last quarter. Rhumbline Advisers increased its position in shares of MSC Industrial Direct by 0.9% during the fourth quarter. Rhumbline Advisers now owns 155,601 shares of the industrial products company's stock worth $11,622,000 after acquiring an additional 1,418 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in MSC Industrial Direct in the fourth quarter valued at about $2,654,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MSM. Loop Capital cut their target price on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Wolfe Research raised shares of MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Finally, Robert W. Baird dropped their target price on shares of 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $82.20.

MSC Industrial Direct Stock Performance

Shares of NYSE:MSM traded up $1.40 on Friday, reaching $77.24. 545,587 shares of the company's stock were exchanged, compared to its average volume of 631,950. MSC Industrial Direct Co., Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $94.31. The business's 50-day moving average is $78.12 and its two-hundred day moving average is $80.61. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 18.44 and a beta of 0.89.

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

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.40%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct's dividend payout ratio is presently 89.71%.

Insider Buying and Selling at MSC Industrial Direct

In other news, Director Mitchell Jacobson acquired 27,642 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were purchased at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.30% of the stock is currently owned by company 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.