Mutual of America Capital Management LLC boosted its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,986 shares of the industrial products company’s stock after buying an additional 1,106 shares during the quarter. Mutual of America Capital Management LLC owned 0.08% of MSC Industrial Direct worth $3,663,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC raised its position in MSC Industrial Direct by 345.6% during the 1st quarter. SG Americas Securities LLC now owns 155,168 shares of the industrial products company’s stock worth $13,222,000 after buying an additional 120,344 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in MSC Industrial Direct by 64.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,285 shares of the industrial products company’s stock worth $1,141,000 after buying an additional 5,216 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in MSC Industrial Direct during the 1st quarter worth approximately $206,000. Sciencast Management LP purchased a new position in MSC Industrial Direct during the 1st quarter worth approximately $1,102,000. Finally, Sawyer & Company Inc purchased a new position in MSC Industrial Direct during the 1st quarter worth approximately $126,000. 76.92% of the stock is owned by hedge funds and other institutional investors.
MSC Industrial Direct Price Performance
MSC Industrial Direct stock opened at $79.20 on Wednesday. The company’s fifty day moving average price is $78.37 and its 200 day moving average price is $80.66. MSC Industrial Direct Co., Inc. has a 1 year low of $71.69 and a 1 year high of $89.84. The stock has a market capitalization of $4.43 billion, a P/E ratio of 14.69, a P/E/G ratio of 2.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.27 and a current ratio of 2.37.
MSC Industrial Direct (NYSE:MSM – Get Rating) last released its quarterly earnings results on Wednesday, June 29th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. MSC Industrial Direct had a net margin of 8.62% and a return on equity of 25.72%. The firm had revenue of $958.60 million for the quarter, compared to analysts’ expectations of $962.54 million. During the same quarter last year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 6.14 earnings per share for the current fiscal year.
MSC Industrial Direct Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Tuesday, July 12th were paid a dividend of $0.75 per share. The ex-dividend date was Monday, July 11th. This represents a $3.00 annualized dividend and a yield of 3.79%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 55.66%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on MSM shares. Robert W. Baird cut their target price on shares of MSC Industrial Direct from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, June 30th. Stephens cut their target price on shares of MSC Industrial Direct to $100.00 in a report on Monday, July 4th. StockNews.com raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. Loop Capital lifted their target price on shares of MSC Industrial Direct from $88.00 to $93.00 in a report on Thursday, March 31st. Finally, William Blair lowered shares of MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.25.
Insiders Place Their Bets
In other MSC Industrial Direct news, Director Louise K. Goeser sold 2,440 shares of MSC Industrial Direct stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $82.47, for a total transaction of $201,226.80. Following the sale, the director now owns 9,763 shares of the company’s stock, valued at approximately $805,154.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Mitchell Jacobson purchased 4,654 shares of the stock in a transaction dated Thursday, May 12th. The shares were purchased at an average price of $79.19 per share, with a total value of $368,550.26. Following the transaction, the director now owns 72,450 shares in the company, valued at approximately $5,737,315.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Louise K. Goeser sold 2,440 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $82.47, for a total transaction of $201,226.80. Following the transaction, the director now directly owns 9,763 shares in the company, valued at approximately $805,154.61. The disclosure for this sale can be found here. 28.28% of the stock is currently owned by corporate insiders.
MSC Industrial Direct Company Profile
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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, and the United Kingdom. Its 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.
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