SG Capital Management LLC Boosts Holdings in MSC Industrial Direct Company, Inc. $MSM

SG Capital Management LLC grew its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 867.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 360,988 shares of the industrial products company’s stock after acquiring an additional 323,659 shares during the quarter. MSC Industrial Direct comprises about 3.0% of SG Capital Management LLC’s holdings, making the stock its 13th largest position. SG Capital Management LLC owned 0.65% of MSC Industrial Direct worth $33,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. American Century Companies Inc. raised its stake in MSC Industrial Direct by 2.5% during the second quarter. American Century Companies Inc. now owns 3,743,021 shares of the industrial products company’s stock worth $318,232,000 after purchasing an additional 92,800 shares during the period. Mackenzie Financial Corp grew its stake in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. Mackenzie Financial Corp now owns 508,514 shares of the industrial products company’s stock valued at $43,234,000 after buying an additional 2,554 shares during the period. Norges Bank purchased a new stake in shares of MSC Industrial Direct during the 2nd quarter valued at $39,950,000. Alliancebernstein L.P. raised its position in shares of MSC Industrial Direct by 21.5% in the 2nd quarter. Alliancebernstein L.P. now owns 362,768 shares of the industrial products company’s stock worth $30,843,000 after buying an additional 64,171 shares during the period. Finally, Auto Owners Insurance Co raised its position in shares of MSC Industrial Direct by 1,118.9% in the 2nd quarter. Auto Owners Insurance Co now owns 346,000 shares of the industrial products company’s stock worth $29,417,000 after buying an additional 317,613 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM opened at $93.66 on Thursday. The stock has a market capitalization of $5.23 billion, a P/E ratio of 25.59 and a beta of 0.84. The firm’s 50-day moving average price is $87.53 and its two-hundred day moving average price is $87.91. MSC Industrial Direct Company, Inc. has a 52-week low of $68.10 and a 52-week 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 announced its quarterly earnings results 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. The business had revenue of $965.68 million for the quarter, compared to the consensus estimate of $962.52 million. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. As a group, 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. Stockholders of record on Wednesday, January 14th were given a dividend of $0.87 per share. The ex-dividend date was Wednesday, January 14th. This represents a $3.48 annualized dividend and a dividend yield of 3.7%. MSC Industrial Direct’s dividend payout ratio is currently 95.08%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MSM. KeyCorp reissued a “sector weight” rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Wall Street Zen downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Zacks Research lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $85.00 price objective on shares of MSC Industrial Direct in a research note on Thursday, January 8th. Finally, iA Financial set 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 company presently has an average rating of “Hold” and an average target price 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.