Sprucegrove Investment Management Ltd. bought a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 112,900 shares of the industrial products company’s stock, valued at approximately $8,532,000. Sprucegrove Investment Management Ltd. owned approximately 0.20% of MSC Industrial Direct as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in MSC Industrial Direct by 26.2% during the second quarter. JPMorgan Chase & Co. now owns 3,124,573 shares of the industrial products company’s stock worth $268,588,000 after buying an additional 649,201 shares in the last quarter. American Century Companies Inc. boosted its holdings in MSC Industrial Direct by 1,889.6% during the third quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock worth $158,638,000 after buying an additional 1,993,717 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in MSC Industrial Direct by 267.2% during the second quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock worth $123,891,000 after buying an additional 1,048,714 shares in the last quarter. State Street Corp boosted its holdings in MSC Industrial Direct by 1.6% during the second quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock worth $105,113,000 after buying an additional 19,302 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in MSC Industrial Direct by 105.3% during the third quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock worth $89,112,000 after buying an additional 604,873 shares in the last quarter. Hedge funds and other institutional investors own 73.67% of the company’s stock.

MSM has been the subject of several research analyst reports. J P Morgan Chase & Co downgraded shares of MSC Industrial Direct from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $80.00 to $76.00 in a research report on Friday, August 4th. Susquehanna Bancshares Inc initiated coverage on shares of MSC Industrial Direct in a research report on Monday, September 25th. They issued a “neutral” rating and a $77.00 price target for the company. KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a research report on Tuesday, October 17th. BMO Capital Markets restated a “market perform” rating and issued a $83.00 price target (up previously from $79.00) on shares of MSC Industrial Direct in a research report on Monday, October 9th. Finally, Gabelli upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $89.29.

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 30,803 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $80.64, for a total value of $2,483,953.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 219,779 shares of company stock valued at $17,796,649. Insiders own 31.28% of the company’s stock.

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MSC Industrial Direct Company, Inc. (MSM) traded up $0.43 during mid-day trading on Tuesday, reaching $81.38. 362,300 shares of the company’s stock were exchanged, compared to its average volume of 622,422. MSC Industrial Direct Company, Inc. has a 12 month low of $65.42 and a 12 month high of $105.70. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4,590.00, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 1.58 and a beta of 0.64.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The company had revenue of $753.80 million during the quarter, compared to the consensus estimate of $745.80 million. During the same quarter in the prior year, the firm earned $1.02 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. analysts expect that MSC Industrial Direct Company, Inc. will post 4.45 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be given a $0.48 dividend. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, November 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.36%. MSC Industrial Direct’s dividend payout ratio is presently 47.52%.

MSC Industrial Direct 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.

Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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