Eagle Asset Management Inc. grew its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 237,029 shares of the industrial products company’s stock after acquiring an additional 2,453 shares during the quarter. Eagle Asset Management Inc. owned about 0.43% of MSC Industrial Direct worth $21,268,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of MSC Industrial Direct by 11.5% in the 1st quarter. BlackRock Inc. now owns 4,365,395 shares of the industrial products company’s stock valued at $393,714,000 after acquiring an additional 448,798 shares during the period. American Century Companies Inc. grew its stake in MSC Industrial Direct by 9.1% during the 2nd quarter. American Century Companies Inc. now owns 2,684,662 shares of the industrial products company’s stock worth $240,895,000 after buying an additional 222,996 shares during the last quarter. Janus Henderson Group PLC grew its stake in MSC Industrial Direct by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,212,366 shares of the industrial products company’s stock worth $109,343,000 after buying an additional 146,163 shares during the last quarter. Alliancebernstein L.P. grew its stake in MSC Industrial Direct by 58.3% during the 1st quarter. Alliancebernstein L.P. now owns 735,971 shares of the industrial products company’s stock worth $66,377,000 after buying an additional 271,132 shares during the last quarter. Finally, Royce & Associates LP grew its stake in MSC Industrial Direct by 30.8% during the 1st quarter. Royce & Associates LP now owns 713,418 shares of the industrial products company’s stock worth $64,343,000 after buying an additional 168,037 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.
MSM has been the topic of several research analyst reports. TheStreet upgraded MSC Industrial Direct from a “c+” rating to a “b+” rating in a research note on Wednesday, July 7th. Zacks Investment Research lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Thursday, August 19th. Stephens upgraded MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Thursday, July 8th. Deutsche Bank Aktiengesellschaft upped their price objective on MSC Industrial Direct from $96.00 to $98.00 and gave the company a “hold” rating in a report on Thursday, July 15th. Finally, Loop Capital started coverage on MSC Industrial Direct in a research note on Tuesday, August 3rd. They issued a “hold” rating and a $92.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $101.17.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, July 6th. The industrial products company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.05. The business had revenue of $866.30 million during the quarter, compared to the consensus estimate of $848.61 million. MSC Industrial Direct had a net margin of 6.44% and a return on equity of 22.06%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. As a group, research analysts forecast that MSC Industrial Direct Co., Inc. will post 4.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 27th. Stockholders of record on Tuesday, July 13th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Monday, July 12th. MSC Industrial Direct’s payout ratio is 63.29%.
In other news, SVP Edward F. Martin, Jr. sold 705 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, July 8th. The shares were sold at an average price of $90.72, for a total transaction of $63,957.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 28.44% of the company’s stock.
MSC Industrial Direct Profile
MSC Industrial Direct Co, Inc engages in the distribution of metalworking, and maintenance, repair, and operations products and services to manufacturing companies. Its products include cutting tools, measuring instruments, tooling components, metalworking, fasteners, flat stock, 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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