Azimuth Capital Management LLC Purchases 9,260 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)


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Azimuth Capital Management LLC grew its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 33.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 36,745 shares of the industrial products company’s stock after acquiring an additional 9,260 shares during the period. Azimuth Capital Management LLC’s holdings in MSC Industrial Direct were worth $3,101,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of MSC Industrial Direct by 1.3% in the 4th quarter. BlackRock Inc. now owns 3,916,597 shares of the industrial products company’s stock valued at $330,521,000 after acquiring an additional 50,563 shares during the last quarter. Yacktman Asset Management LP lifted its stake in shares of MSC Industrial Direct by 5.7% in the 3rd quarter. Yacktman Asset Management LP now owns 1,309,432 shares of the industrial products company’s stock valued at $82,861,000 after acquiring an additional 70,188 shares during the last quarter. Sprucegrove Investment Management Ltd. increased its holdings in MSC Industrial Direct by 95.7% in the fourth quarter. Sprucegrove Investment Management Ltd. now owns 1,028,710 shares of the industrial products company’s stock valued at $86,813,000 after purchasing an additional 503,010 shares during the period. Mackenzie Financial Corp increased its holdings in MSC Industrial Direct by 1.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,017,305 shares of the industrial products company’s stock valued at $85,850,000 after purchasing an additional 16,345 shares during the period. Finally, First Trust Advisors LP increased its holdings in MSC Industrial Direct by 24.7% in the third quarter. First Trust Advisors LP now owns 1,003,132 shares of the industrial products company’s stock valued at $63,478,000 after purchasing an additional 198,412 shares during the period. Institutional investors own 72.20% of the company’s stock.

A number of analysts recently weighed in on MSM shares. Deutsche Bank Aktiengesellschaft increased their price objective on MSC Industrial Direct from $75.00 to $92.00 and gave the company a “hold” rating in a report on Wednesday, December 16th. Raymond James upgraded MSC Industrial Direct from an “underperform” rating to a “market perform” rating in a report on Wednesday, October 28th. They noted that the move was a valuation call. Wells Fargo & Company increased their price objective on MSC Industrial Direct from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, January 7th. KeyCorp increased their price objective on MSC Industrial Direct from $82.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, November 23rd. Finally, Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Wednesday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.88.

Shares of MSM traded down $1.56 during trading hours on Tuesday, hitting $83.50. The stock had a trading volume of 11,135 shares, compared to its average volume of 461,625. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $83.21 and a 200-day simple moving average of $75.62. The firm has a market capitalization of $4.66 billion, a P/E ratio of 20.67 and a beta of 0.99. MSC Industrial Direct Co., Inc. has a 1-year low of $44.93 and a 1-year high of $87.84.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, January 5th. The industrial products company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.02. The company had revenue of $771.90 million during the quarter, compared to the consensus estimate of $771.54 million. MSC Industrial Direct had a return on equity of 20.42% and a net margin of 7.14%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $1.21 EPS. Equities analysts predict that MSC Industrial Direct Co., Inc. will post 4.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 26th. Stockholders of record on Tuesday, January 12th were paid a $0.75 dividend. The ex-dividend date of this dividend was Monday, January 11th. This represents a $3.00 annualized dividend and a dividend yield of 3.59%. MSC Industrial Direct’s dividend payout ratio is presently 63.29%.

In related news, Director Mitchell Jacobson purchased 67,796 shares of the business’s stock in a transaction on Friday, January 29th. The stock was acquired at an average price of $78.04 per share, for a total transaction of $5,290,799.84. Following the purchase, the director now owns 67,796 shares of the company’s stock, valued at $5,290,799.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Edward F. Martin, Jr. sold 871 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $81.64, for a total value of $71,108.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,405 shares of company stock worth $4,415,854. 28.44% of the stock is owned by insiders.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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