NJ State Employees Deferred Compensation Plan Takes $907,000 Position in MSC Industrial Direct Company, Inc. (MSM)

NJ State Employees Deferred Compensation Plan bought a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,000 shares of the industrial products company’s stock, valued at approximately $907,000.

Several other hedge funds have also made changes to their positions in MSM. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MSC Industrial Direct by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 123 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in MSC Industrial Direct by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 8 shares in the last quarter. QS Investors LLC boosted its stake in MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 8 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in MSC Industrial Direct by 1,373.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 2,060 shares in the last quarter. Finally, Numeric Investors LLC bought a new position in MSC Industrial Direct in the 2nd quarter worth about $206,000. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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A number of equities analysts have weighed in on MSM shares. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday, September 27th. BidaskClub raised MSC Industrial Direct from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. BMO Capital Markets reissued a “market perform” rating on shares of MSC Industrial Direct in a research report on Tuesday, September 12th. Credit Suisse Group decreased their target price on MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a research report on Thursday, July 13th. Finally, TheStreet lowered MSC Industrial Direct from a “b” rating to a “c+” rating in a research report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $88.86.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. The company had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $745.80 million. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. MSC Industrial Direct’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $1.02 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be given a $0.48 dividend. The ex-dividend date is Monday, November 13th. This is a boost 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 2.32%. MSC Industrial Direct’s payout ratio is 44.55%.

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.

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

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