MSC Industrial Direct Company, Inc. $MSM Stock Position Lessened by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,451,836 shares of the industrial products company’s stock after selling 32,462 shares during the quarter. Vanguard Group Inc. owned about 7.98% of MSC Industrial Direct worth $410,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSM. Allianz Asset Management GmbH lifted its stake in shares of MSC Industrial Direct by 124.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 195,176 shares of the industrial products company’s stock worth $17,984,000 after acquiring an additional 108,116 shares during the period. Squarepoint Ops LLC bought a new stake in MSC Industrial Direct during the second quarter worth approximately $1,352,000. Arjuna Capital bought a new stake in MSC Industrial Direct during the third quarter worth approximately $4,274,000. Norges Bank acquired a new stake in MSC Industrial Direct in the second quarter worth approximately $39,950,000. Finally, Convergence Investment Partners LLC bought a new position in MSC Industrial Direct during the 3rd quarter valued at $1,190,000. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Trading Up 0.2%

NYSE:MSM opened at $93.29 on Friday. The stock has a fifty day simple moving average of $88.38 and a 200 day simple moving average of $88.20. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 25.49 and a beta of 0.84. MSC Industrial Direct Company, Inc. has a 1-year low of $68.10 and a 1-year high of $96.99. The company has a quick ratio of 0.82, a current ratio of 1.73 and a debt-to-equity ratio of 0.15.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The firm had revenue of $965.68 million for the quarter, compared to the consensus estimate of $962.52 million. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, January 14th. MSC Industrial Direct’s dividend payout ratio is 95.08%.

Analysts Set New Price Targets

A number of analysts have recently commented on MSM shares. Wall Street Zen downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Robert W. Baird set a $94.00 target price on MSC Industrial Direct in a report on Thursday, January 8th. Zacks Research cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of MSC Industrial Direct in a research note on Friday, February 6th. Nine analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.50.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.