Visionary Asset Management Inc. bought a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) during the second quarter, Holdings Channel reports. The institutional investor bought 3,922 shares of the industrial products company’s stock, valued at approximately $337,000.

Several other institutional investors also recently added to or reduced their stakes in MSM. Norges Bank bought a new position in MSC Industrial Direct during the fourth quarter valued at $41,201,000. Quadrature Capital Ltd bought a new position in MSC Industrial Direct during the fourth quarter valued at $2,359,000. UBS Asset Management Americas Inc. increased its position in MSC Industrial Direct by 66.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 69,076 shares of the industrial products company’s stock valued at $6,381,000 after buying an additional 27,553 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. bought a new position in MSC Industrial Direct during the first quarter valued at $1,120,000. Finally, Confluence Investment Management LLC increased its position in MSC Industrial Direct by 3.8% in the first quarter. Confluence Investment Management LLC now owns 200,039 shares of the industrial products company’s stock valued at $20,556,000 after buying an additional 7,293 shares in the last quarter. 77.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MSC Industrial Direct Company, Inc. (MSM) traded down 1.64% during midday trading on Wednesday, hitting $72.48. The company’s stock had a trading volume of 542,452 shares. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 18.07 and a beta of 0.54. MSC Industrial Direct Company, Inc. has a 12-month low of $69.96 and a 12-month high of $105.70. The firm has a 50-day moving average of $83.55 and a 200 day moving average of $93.54.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.09. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The business had revenue of $743.90 million during the quarter, compared to analysts’ expectations of $744.49 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that MSC Industrial Direct Company, Inc. will post $3.98 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th will be paid a $0.45 dividend. The ex-dividend date is Friday, July 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.44%. MSC Industrial Direct’s payout ratio is presently 45.11%.

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Several equities analysts have commented on MSM shares. KeyCorp reaffirmed a “sector weight” rating on shares of MSC Industrial Direct in a research report on Tuesday, April 4th. Barclays PLC reaffirmed a “sell” rating and issued a $85.00 price objective on shares of MSC Industrial Direct in a research report on Friday, April 7th. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Saturday, April 8th. Credit Suisse Group raised MSC Industrial Direct from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $92.00 to $100.00 in a research report on Wednesday, April 19th. Finally, Raymond James Financial, Inc. raised MSC Industrial Direct from a “market perform” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $92.00.

About MSC Industrial Direct

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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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