Cerebellum GP LLC lifted its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 450.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,215 shares of the industrial products company’s stock after buying an additional 5,905 shares during the period. Cerebellum GP LLC’s holdings in MSC Industrial Direct were worth $566,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MSM. Copeland Capital Management LLC purchased a new position in shares of MSC Industrial Direct in the third quarter worth about $36,612,000. Veritas Asset Management LLP purchased a new position in shares of MSC Industrial Direct in the third quarter worth about $22,724,000. Yacktman Asset Management LP purchased a new position in shares of MSC Industrial Direct in the third quarter worth about $13,431,000. Nuveen Asset Management LLC purchased a new position in shares of MSC Industrial Direct in the second quarter worth about $12,402,000. Finally, First Trust Advisors LP increased its holdings in shares of MSC Industrial Direct by 27.6% in the third quarter. First Trust Advisors LP now owns 768,222 shares of the industrial products company’s stock worth $55,719,000 after buying an additional 166,267 shares during the period. Hedge funds and other institutional investors own 76.87% of the company’s stock.
In other MSC Industrial Direct news, CFO Rustom Jilla sold 1,900 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.00, for a total transaction of $142,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 58,702 shares of company stock worth $4,467,141. 28.75% of the stock is owned by company insiders.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.04. MSC Industrial Direct had a return on equity of 19.67% and a net margin of 8.35%. The company had revenue of $823.60 million for the quarter, compared to the consensus estimate of $820.84 million. During the same quarter in the previous year, the business earned $1.33 EPS. MSC Industrial Direct’s revenue was down 1.0% compared to the same quarter last year. Analysts expect that MSC Industrial Direct Co Inc will post 4.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $3.00 dividend on an annualized basis and a yield of 3.90%. MSC Industrial Direct’s dividend payout ratio is presently 56.71%.
Several research firms have recently commented on MSM. JPMorgan Chase & Co. lifted their price objective on MSC Industrial Direct from $78.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Co set a $60.00 price target on MSC Industrial Direct and gave the company a “sell” rating in a report on Friday, October 25th. Zacks Investment Research downgraded MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Raymond James downgraded MSC Industrial Direct from a “market perform” rating to an “underperform” rating in a report on Thursday, November 7th. Finally, Buckingham Research reduced their price target on MSC Industrial Direct from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. MSC Industrial Direct has a consensus rating of “Hold” and a consensus price target of $75.56.
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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