Russell Investments Group Ltd. Raises Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Russell Investments Group Ltd. boosted its position in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 114.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,943 shares of the industrial products company's stock after acquiring an additional 52,739 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of MSC Industrial Direct worth $7,390,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in MSC Industrial Direct by 36.9% in the 3rd 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 last quarter. Norges Bank bought a new position in shares of MSC Industrial Direct in the 4th quarter valued at $34,735,000. State of New Jersey Common Pension Fund D boosted its holdings in shares of MSC Industrial Direct by 8.9% during 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 acquiring an additional 2,136 shares in the last quarter. Rhumbline Advisers grew its position in MSC Industrial Direct by 0.9% during the 4th 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. acquired a new position in MSC Industrial Direct in the 4th quarter worth about $2,654,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Trading Up 1.9 %

NYSE MSM traded up $1.40 during trading hours on Friday, hitting $77.24. 545,587 shares of the company's stock were exchanged, compared to its average volume of 631,950. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 18.44 and a beta of 0.89. 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 50-day simple moving average of $78.12 and a 200 day simple moving average of $80.61. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

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 (EPS) for the quarter, beating 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 company had revenue of $891.70 million for the quarter, compared to the consensus estimate of $908.30 million. During the same quarter in the previous year, the company earned $1.18 EPS. MSC Industrial Direct's quarterly 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 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Wednesday, April 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 89.71%.

Insiders Place Their Bets

In other MSC Industrial Direct news, Director Mitchell Jacobson acquired 27,642 shares of the stock in a transaction on Tuesday, April 8th. The shares were purchased at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the acquisition, the director now owns 1,951,725 shares in the company, valued at approximately $136,171,853.25. This represents a 1.44 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Loop Capital reduced their target price on shares of MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a report 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 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 note on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, MSC Industrial Direct has a consensus rating of "Hold" and a consensus price target 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.