Jennison Associates LLC Decreases Stake in MSC Industrial Direct Company, Inc. (MSM)

Jennison Associates LLC lowered its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 65.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 313,657 shares of the industrial products company’s stock after selling 598,344 shares during the period. Jennison Associates LLC owned 0.55% of MSC Industrial Direct worth $23,703,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MSM. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MSC Industrial Direct by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after buying an additional 123 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of 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 buying an additional 8 shares during the last quarter. QS Investors LLC boosted its stake in shares of 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 buying an additional 8 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of 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 buying an additional 2,060 shares during the last quarter. Finally, Numeric Investors LLC purchased a new position in shares of MSC Industrial Direct in the 2nd quarter worth $206,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 13,582 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $81.91, for a total transaction of $1,112,501.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 84,875 shares of company stock worth $6,889,883. Insiders own 31.28% of the company’s stock.

MSC Industrial Direct Company, Inc. (MSM) opened at $80.65 on Friday. The firm has a market capitalization of $4,453.76, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.54 and a beta of 0.64. 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 Company, Inc. has a 52-week low of $65.42 and a 52-week high of $105.70.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $753.80 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. equities analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.48 per share. 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 yield of 2.38%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 47.52%.

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A number of equities analysts have recently issued reports on MSM shares. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Wednesday, September 27th. Stifel Nicolaus restated a “hold” rating and issued a $84.00 price target on shares of MSC Industrial Direct in a research note on Friday, November 3rd. BMO Capital Markets restated a “market perform” rating on shares of MSC Industrial Direct in a research note on Tuesday, September 12th. BidaskClub downgraded MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, TheStreet downgraded MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $89.29.

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.

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

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