Haverford Trust Co. raised its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 6.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,365 shares of the industrial products company’s stock after buying an additional 325 shares during the quarter. Haverford Trust Co.’s holdings in MSC Industrial Direct were worth $389,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of MSM. Hamlin Capital Management LLC purchased a new position in MSC Industrial Direct in the second quarter valued at about $52,364,000. Veritas Asset Management LLP purchased a new position in MSC Industrial Direct in the third quarter valued at about $22,724,000. Fiduciary Management Inc. WI grew its stake in MSC Industrial Direct by 47.2% in the second quarter. Fiduciary Management Inc. WI now owns 671,263 shares of the industrial products company’s stock valued at $49,848,000 after purchasing an additional 215,238 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in MSC Industrial Direct in the second quarter valued at about $12,402,000. Finally, Russell Investments Group Ltd. grew its stake in MSC Industrial Direct by 819.2% in the third quarter. Russell Investments Group Ltd. now owns 179,951 shares of the industrial products company’s stock valued at $13,048,000 after purchasing an additional 160,374 shares during the last quarter. Institutional investors own 75.41% of the company’s stock.
Shares of MSM stock traded down $0.34 during trading hours on Friday, reaching $75.30. 354,970 shares of the company’s stock were exchanged, compared to its average volume of 441,474. MSC Industrial Direct Co Inc has a 1 year low of $64.59 and a 1 year high of $90.25. The stock has a market cap of $4.23 billion, a PE ratio of 14.23, a PEG ratio of 1.22 and a beta of 0.92. The company has a current ratio of 2.68, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average price is $72.15 and its two-hundred day moving average price is $72.38.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.07. MSC Industrial Direct had a return on equity of 20.63% and a net margin of 8.59%. The business had revenue of $842.70 million for the quarter, compared to analyst estimates of $837.97 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts expect that MSC Industrial Direct Co Inc will post 5.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, November 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is 56.71%.
In related news, CFO Rustom Jilla sold 7,907 shares of MSC Industrial Direct stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $75.51, for a total transaction of $597,057.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 27.96% of the company’s stock.
Several research firms have issued reports on MSM. Stephens set a $76.00 target price on MSC Industrial Direct and gave the company a “hold” rating in a research note on Friday, October 25th. ValuEngine upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Buckingham Research boosted their price target on MSC Industrial Direct from $69.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Zacks Investment Research upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Co set a $60.00 price target on MSC Industrial Direct and gave the stock a “sell” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. MSC Industrial Direct currently has a consensus rating of “Hold” and a consensus target price of $78.10.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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