Connor Clark & Lunn Investment Management Ltd. Buys 56,430 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 367.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 71,794 shares of the industrial products company’s stock after purchasing an additional 56,430 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MSC Industrial Direct were worth $6,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of MSC Industrial Direct in the third quarter valued at about $26,000. UMB Bank n.a. boosted its position in MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 252 shares during the last quarter. Blue Trust Inc. grew its stake in shares of MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 297 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of MSC Industrial Direct in the second quarter valued at approximately $26,000. Finally, Quest Partners LLC lifted its position in shares of MSC Industrial Direct by 35,300.0% in the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 353 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Philip Peller sold 900 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total transaction of $80,163.00. Following the completion of the sale, the director now owns 4,044 shares in the company, valued at approximately $360,199.08. This trade represents a 18.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Erik Gershwind sold 50,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the completion of the transaction, the chief executive officer now owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.80% of the company’s stock.

Analyst Ratings Changes

MSM has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird lifted their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.20.

MSC Industrial Direct Stock Up 1.6 %

MSC Industrial Direct stock opened at $85.47 on Friday. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $104.76. The firm has a market capitalization of $4.78 billion, a PE ratio of 18.66 and a beta of 0.87. The company’s 50-day moving average is $83.50 and its 200-day moving average is $83.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.05). MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The business had revenue of $952.30 million during the quarter, compared to the consensus estimate of $959.74 million. During the same quarter in the prior year, the company earned $1.64 EPS. MSC Industrial Direct’s quarterly revenue was down 8.0% on a year-over-year basis. Sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.85 per share. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 13th. This represents a $3.40 annualized dividend and a yield of 3.98%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 74.24%.

MSC Industrial Direct Company Profile

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, the United Kingdom, and internationally. The company's 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.