Verity & Verity LLC Boosts Stake in MSC Industrial Direct Company, Inc. (MSM)

Verity & Verity LLC grew its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 17.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,327 shares of the industrial products company’s stock after acquiring an additional 2,528 shares during the period. Verity & Verity LLC’s holdings in MSC Industrial Direct were worth $1,309,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of MSC Industrial Direct by 26.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,124,573 shares of the industrial products company’s stock valued at $268,588,000 after acquiring an additional 649,201 shares during the period. Alliancebernstein L.P. lifted its position in shares of MSC Industrial Direct by 267.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock valued at $123,891,000 after acquiring an additional 1,048,714 shares during the period. State Street Corp lifted its position in shares of MSC Industrial Direct by 1.6% during the 2nd quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock valued at $105,113,000 after acquiring an additional 19,302 shares during the period. Jennison Associates LLC lifted its position in shares of MSC Industrial Direct by 52.8% during the 2nd quarter. Jennison Associates LLC now owns 912,001 shares of the industrial products company’s stock valued at $78,396,000 after acquiring an additional 315,012 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of MSC Industrial Direct by 8.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 754,000 shares of the industrial products company’s stock valued at $64,813,000 after acquiring an additional 60,454 shares during the period. Institutional investors own 74.70% of the company’s stock.

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In other MSC Industrial Direct news, Director Mitchell Jacobson sold 33,866 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $82.39, for a total value of $2,790,219.74. Following the completion of the sale, the director now directly owns 35,932 shares of the company’s stock, valued at approximately $2,960,437.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.28% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Saturday, July 8th. BMO Capital Markets lifted their price target on shares of MSC Industrial Direct from $83.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday. Wells Fargo & Company set a $86.00 price target on shares of MSC Industrial Direct and gave the company a “hold” rating in a research report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and set a $84.00 price target on shares of MSC Industrial Direct in a research report on Friday. Finally, Credit Suisse Group set a $93.00 price target on shares of MSC Industrial Direct and gave the company a “buy” rating in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $89.29.

Shares of MSC Industrial Direct Company, Inc. (MSM) traded down $0.37 during trading on Friday, hitting $81.96. The company had a trading volume of 277,575 shares, compared to its average volume of 644,433. The stock has a market capitalization of $4,666.56, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.61 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 1.80.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The firm had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $745.80 million. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. MSC Industrial Direct’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS. analysts expect that MSC Industrial Direct Company, Inc. will post 4.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be paid a $0.48 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, November 13th. MSC Industrial Direct’s payout ratio is presently 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.

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

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