Brandes Investment Partners LP Takes $273,000 Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Brandes Investment Partners LP purchased a new position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,693 shares of the industrial products company’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of MSC Industrial Direct in the fourth quarter worth about $56,088,000. Vanguard Group Inc. grew its holdings in MSC Industrial Direct by 4.3% during the third quarter. Vanguard Group Inc. now owns 4,817,016 shares of the industrial products company’s stock valued at $472,790,000 after purchasing an additional 197,193 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of MSC Industrial Direct by 39.9% during the 3rd quarter. Invesco Ltd. now owns 462,756 shares of the industrial products company’s stock worth $45,420,000 after buying an additional 131,943 shares during the period. AQR Capital Management LLC raised its holdings in MSC Industrial Direct by 19.6% in the 3rd quarter. AQR Capital Management LLC now owns 769,908 shares of the industrial products company’s stock worth $75,566,000 after acquiring an additional 125,944 shares during the period. Finally, Pacer Advisors Inc. lifted its position in MSC Industrial Direct by 23.0% during the 4th quarter. Pacer Advisors Inc. now owns 605,437 shares of the industrial products company’s stock worth $61,307,000 after acquiring an additional 113,068 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Price Performance

Shares of MSM stock traded down $0.26 during trading hours on Wednesday, reaching $90.97. 56,462 shares of the company were exchanged, compared to its average volume of 450,366. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 16.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92. The stock’s fifty day moving average is $94.05 and its two-hundred day moving average is $97.06. MSC Industrial Direct Co., Inc. has a fifty-two week low of $89.24 and a fifty-two week high of $105.77.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. The company had revenue of $935.30 million for the quarter, compared to analyst estimates of $946.55 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. Sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 5.69 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Monday, April 8th. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a report on Monday, April 1st. StockNews.com raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.00.

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.