Principal Financial Group Inc. lifted its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 126.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 441,321 shares of the industrial products company’s stock after acquiring an additional 246,659 shares during the period. Principal Financial Group Inc. owned approximately 0.98% of MSC Industrial Direct worth $33,350,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Westpac Banking Corp lifted its holdings in shares of MSC Industrial Direct by 14.8% during the 3rd quarter. Westpac Banking Corp now owns 79,800 shares of the industrial products company’s stock worth $6,030,000 after acquiring an additional 10,300 shares during the period. Alpha Windward LLC bought a new position in MSC Industrial Direct in the 3rd quarter valued at approximately $521,000. Brookstone Capital Management bought a new position in MSC Industrial Direct in the 2nd quarter valued at approximately $281,000. Alliancebernstein L.P. lifted its stake in MSC Industrial Direct by 267.2% in 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 purchasing an additional 1,048,714 shares during the last quarter. Finally, Oak Ridge Investments LLC lifted its stake in MSC Industrial Direct by 37.8% in the 2nd quarter. Oak Ridge Investments LLC now owns 14,710 shares of the industrial products company’s stock valued at $1,264,000 after purchasing an additional 4,035 shares during the last quarter. 78.38% of the stock is owned by institutional investors.
In other MSC Industrial Direct news, Director Mitchell Jacobson sold 13,582 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $81.91, for a total value of $1,112,501.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 84,875 shares of company stock valued at $6,889,883 over the last 90 days. Corporate insiders own 31.28% of the company’s stock.
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Shares of MSC Industrial Direct Company, Inc. (MSM) opened at $80.95 on Friday. MSC Industrial Direct Company, Inc. has a 12-month low of $65.42 and a 12-month high of $105.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 1.80. The firm has a market cap of $4,507.33, a price-to-earnings ratio of 19.78, a PEG ratio of 1.56 and a beta of 0.64.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The company had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $745.80 million. During the same period in the prior year, the company posted $1.02 earnings per share. MSC Industrial Direct’s revenue for the quarter was up 1.2% compared to the same quarter last year. research analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.46 EPS for the current year.
The company 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 dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, November 13th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.37%. MSC Industrial Direct’s dividend payout ratio is 47.52%.
Several equities analysts recently commented on MSM shares. Northcoast Research started coverage on shares of MSC Industrial Direct in a research note on Tuesday, July 25th. They issued a “neutral” rating for the company. BidaskClub downgraded shares of MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. J P Morgan Chase & Co downgraded shares of MSC Industrial Direct from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Friday, August 4th. Finally, TheStreet downgraded shares of MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $89.29.
MSC Industrial Direct 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.
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