Stifel Financial Corp increased its holdings in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 14.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,978 shares of the industrial products company’s stock after buying an additional 2,249 shares during the period. Stifel Financial Corp’s holdings in MSC Industrial Direct were worth $1,362,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its position in MSC Industrial Direct by 6.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 222,549 shares of the industrial products company’s stock worth $16,819,000 after buying an additional 14,116 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of MSC Industrial Direct in the 3rd quarter worth approximately $4,520,000. WINTON GROUP Ltd lifted its position in shares of MSC Industrial Direct by 45.0% in the 3rd quarter. WINTON GROUP Ltd now owns 77,412 shares of the industrial products company’s stock worth $5,850,000 after purchasing an additional 24,010 shares during the period. Iberiabank Corp acquired a new position in shares of MSC Industrial Direct in the 3rd quarter worth approximately $205,000. Finally, Schroder Investment Management Group lifted its position in shares of MSC Industrial Direct by 52.7% in the 3rd quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock worth $72,250,000 after purchasing an additional 332,893 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.
A number of brokerages have recently issued reports on MSM. Susquehanna Bancshares began coverage on shares of MSC Industrial Direct in a research report on Monday, September 25th. They issued a “neutral” rating and a $77.00 price target on the stock. KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a research report on Tuesday, October 17th. Gabelli upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Friday, October 13th. BMO Capital Markets restated a “market perform” rating and issued a $83.00 price target (up previously from $79.00) on shares of MSC Industrial Direct in a research report on Monday, October 9th. Finally, Credit Suisse Group set a $100.00 price target on shares of MSC Industrial Direct and gave the stock a “buy” rating in a research report on Monday, December 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. MSC Industrial Direct has a consensus rating of “Hold” and an average price target of $88.92.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. analysts expect that MSC Industrial Direct Co Inc will post 4.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th were paid a $0.48 dividend. The ex-dividend date was Monday, November 13th. This represents a $1.92 annualized dividend and a dividend yield of 2.03%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.45. MSC Industrial Direct’s payout ratio is currently 47.52%.
In other news, Director Mitchell Jacobson sold 104,101 shares of MSC Industrial Direct stock in a transaction on Monday, November 20th. The shares were sold at an average price of $80.91, for a total value of $8,422,811.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven N. Baruch sold 5,762 shares of MSC Industrial Direct stock in a transaction on Monday, November 20th. The shares were 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. Insiders sold a total of 225,541 shares of company stock valued at $18,264,812 in the last quarter. 31.28% of the stock is currently owned by company insiders.
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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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