MSC Industrial Direct Company, Inc. $MSM Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 13.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 236,504 shares of the industrial products company’s stock after buying an additional 27,171 shares during the quarter. Wellington Management Group LLP owned approximately 0.42% of MSC Industrial Direct worth $28,132,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its position in MSC Industrial Direct by 4.8% during the first quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock worth $3,650,000 after acquiring an additional 2,164 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of MSC Industrial Direct during the 1st quarter worth $455,000. NewEdge Advisors LLC lifted its stake in shares of MSC Industrial Direct by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 333 shares during the period. United Services Automobile Association acquired a new stake in shares of MSC Industrial Direct during the first quarter worth $229,000. Finally, Empowered Funds LLC acquired a new stake in shares of MSC Industrial Direct during the first quarter worth $816,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Trading Up 3.0%

Shares of MSM opened at $121.38 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6.78 billion, a P/E ratio of 29.32 and a beta of 0.83. The stock’s fifty day simple moving average is $122.13 and its 200 day simple moving average is $108.34. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $130.46.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.28 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, equities research analysts forecast that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, July 8th. MSC Industrial Direct’s payout ratio is currently 84.06%.

Analysts Set New Price Targets

MSM has been the subject of several analyst reports. Jefferies Financial Group set a $130.00 target price on MSC Industrial Direct in a research note on Wednesday, July 1st. KeyCorp raised their price target on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Rothschild & Co Redburn began coverage on MSC Industrial Direct in a report on Monday, July 13th. They issued a “buy” rating and a $155.00 price target for the company. Zacks Research downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, DA Davidson increased their price objective on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.43.

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.