State Street Corp Boosts Position in MSC Industrial Direct Company, Inc. (MSM)
State Street Corp increased its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 1.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,203,471 shares of the industrial products company’s stock after buying an additional 20,473 shares during the period. State Street Corp owned approximately 2.11% of MSC Industrial Direct worth $123,670,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in MSM. Morgan Dempsey Capital Management LLC boosted its stake in MSC Industrial Direct by 3.5% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,093 shares of the industrial products company’s stock valued at $112,000 after buying an additional 37 shares in the last quarter. Simplex Trading LLC acquired a new stake in MSC Industrial Direct during the first quarter valued at $139,000. PNC Financial Services Group Inc. boosted its stake in MSC Industrial Direct by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,569 shares of the industrial products company’s stock valued at $161,000 after buying an additional 88 shares in the last quarter. Invictus RG boosted its stake in MSC Industrial Direct by 796.7% in the first quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock valued at $167,000 after buying an additional 1,442 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of MSC Industrial Direct during the first quarter valued at approximately $205,000. 76.91% of the stock is owned by hedge funds and other institutional investors.
MSC Industrial Direct Company, Inc. (NYSE MSM) traded up 0.01% on Thursday, hitting $70.49. The company had a trading volume of 496,199 shares. MSC Industrial Direct Company, Inc. has a one year low of $69.90 and a one year high of $105.70. The stock has a 50 day moving average of $79.96 and a 200-day moving average of $91.87. The stock has a market capitalization of $3.18 billion, a PE ratio of 17.62 and a beta of 0.50.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The company had revenue of $743.90 million during the quarter, compared to the consensus estimate of $744.49 million. During the same period in the prior year, the company earned $1.05 EPS. MSC Industrial Direct’s revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that MSC Industrial Direct Company, Inc. will post $3.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Friday, July 14th. MSC Industrial Direct’s dividend payout ratio is presently 45.11%.
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Several brokerages recently commented on MSM. Barclays PLC reaffirmed a “sell” rating and issued a $85.00 target price on shares of MSC Industrial Direct in a research report on Friday, April 7th. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Saturday, April 8th. BidaskClub upgraded MSC Industrial Direct from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Raymond James Financial, Inc. upgraded MSC Industrial Direct from a “market perform” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Wednesday, April 19th. Finally, Credit Suisse Group upgraded MSC Industrial Direct from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $100.00 in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. MSC Industrial Direct currently has a consensus rating of “Hold” and a consensus target price of $92.00.
In other news, Director Philip Peller acquired 1,000 shares of MSC Industrial Direct stock in a transaction on Wednesday, July 19th. The stock was bought at an average cost of $72.00 per share, with a total value of $72,000.00. Following the completion of the purchase, the director now owns 2,422 shares of the company’s stock, valued at $174,384. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 31.28% of the stock is currently owned by corporate insiders.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.
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