Virginia Retirement Systems ET AL Acquires 11,300 Shares of MSC Industrial Direct Co Inc (MSM)
Virginia Retirement Systems ET AL lifted its holdings in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 194.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,100 shares of the industrial products company’s stock after buying an additional 11,300 shares during the period. Virginia Retirement Systems ET AL’s holdings in MSC Industrial Direct were worth $1,292,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Legal & General Group Plc grew its position in shares of MSC Industrial Direct by 11.8% during the 3rd quarter. Legal & General Group Plc now owns 56,755 shares of the industrial products company’s stock valued at $4,288,000 after buying an additional 5,979 shares during the last quarter. Haverford Financial Services Inc. bought a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at about $235,000. Wasatch Advisors Inc. bought a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at about $342,000. Yorktown Management & Research Co Inc bought a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at about $861,000. Finally, Sprucegrove Investment Management Ltd. bought a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at about $8,532,000. 75.57% of the stock is owned by institutional investors and hedge funds.
Shares of MSC Industrial Direct Co Inc (MSM) traded down $0.62 during trading hours on Thursday, hitting $89.46. 304,500 shares of the stock were exchanged, compared to its average volume of 618,762. The firm has a market cap of $5,040.00, a price-to-earnings ratio of 22.30, a P/E/G ratio of 1.76 and a beta of 0.66. MSC Industrial Direct Co Inc has a 12 month low of $65.42 and a 12 month high of $105.70. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $753.80 million during the quarter, compared to analyst estimates of $745.80 million. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 EPS. equities analysts forecast that MSC Industrial Direct Co Inc will post 4.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th were paid a $0.48 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Monday, November 13th. MSC Industrial Direct’s dividend payout ratio is currently 47.52%.
In related news, Director Mitchell Jacobson sold 13,582 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $81.91, for a total value of $1,112,501.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven N. Baruch sold 5,762 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $81.25, for a total transaction of $468,162.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,541 shares of company stock valued at $18,264,812. Company insiders own 31.28% of the company’s stock.
A number of research analysts have issued reports on the stock. Susquehanna Bancshares assumed coverage on shares of MSC Industrial Direct in a research note on Monday, September 25th. They set a “neutral” rating and a $77.00 target price for the company. KeyCorp reissued a “hold” rating on shares of MSC Industrial Direct in a research note on Tuesday, October 17th. Gabelli raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Friday, October 13th. BMO Capital Markets reissued a “market perform” rating and set a $83.00 target price (up from $79.00) on shares of MSC Industrial Direct in a research note on Monday, October 9th. Finally, Credit Suisse Group set a $100.00 target price on shares of MSC Industrial Direct and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $88.17.
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MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, 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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