River Road Asset Management LLC lessened its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 61.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,521 shares of the industrial products company’s stock after selling 150,145 shares during the period. River Road Asset Management LLC’s holdings in MSC Industrial Direct were worth $8,481,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in 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 last quarter. American Century Companies Inc. grew its position in MSC Industrial Direct by 9.1% in the 2nd quarter. American Century Companies Inc. now owns 2,684,662 shares of the industrial products company’s stock valued at $240,895,000 after acquiring an additional 222,996 shares during the last quarter. Janus Henderson Group PLC grew its position in MSC Industrial Direct by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,212,366 shares of the industrial products company’s stock valued at $109,343,000 after acquiring an additional 146,163 shares during the last quarter. Alliancebernstein L.P. grew its position in MSC Industrial Direct by 58.3% in the 1st quarter. Alliancebernstein L.P. now owns 735,971 shares of the industrial products company’s stock valued at $66,377,000 after acquiring an additional 271,132 shares during the last quarter. Finally, Royce & Associates LP grew its position in MSC Industrial Direct by 30.8% in the 1st quarter. Royce & Associates LP now owns 713,418 shares of the industrial products company’s stock valued at $64,343,000 after acquiring an additional 168,037 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Loop Capital assumed coverage on MSC Industrial Direct in a research report on Tuesday, August 3rd. They set a “hold” rating and a $92.00 price target on the stock. Stephens raised MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a research report on Thursday, July 8th. Deutsche Bank Aktiengesellschaft increased their price target on MSC Industrial Direct from $96.00 to $98.00 and gave the stock a “hold” rating in a research report on Thursday, July 15th. TheStreet raised MSC Industrial Direct from a “c+” rating to a “b+” rating in a research report on Wednesday, July 7th. Finally, Zacks Investment Research downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Thursday, August 19th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, MSC Industrial Direct currently has an average rating of “Buy” and a consensus price target of $101.17.
Shares of NYSE MSM traded down $0.41 during mid-day trading on Wednesday, reaching $79.94. 345,478 shares of the company were exchanged, compared to its average volume of 378,348. The company has a quick ratio of 0.92, a current ratio of 1.70 and a debt-to-equity ratio of 0.30. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 22.02 and a beta of 1.09. MSC Industrial Direct Co., Inc. has a 1 year low of $60.09 and a 1 year high of $96.23. The firm has a 50-day moving average of $85.68 and a 200 day moving average of $88.85.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Tuesday, July 6th. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. MSC Industrial Direct had a return on equity of 22.06% and a net margin of 6.44%. The firm had revenue of $866.30 million during the quarter, compared to analysts’ expectations of $848.61 million. During the same period in the prior year, the business posted $1.40 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that MSC Industrial Direct Co., Inc. will post 4.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 27th. Shareholders of record on Tuesday, July 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Monday, July 12th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 63.29%.
MSC Industrial Direct Company 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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