Mirae Asset Global Investments Co. Ltd. grew its position in MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 16.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,851 shares of the industrial products company’s stock after purchasing an additional 24,119 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MSC Industrial Direct were worth $14,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of MSC Industrial Direct by 34.8% in the first quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company’s stock worth $467,024,000 after buying an additional 1,414,485 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of MSC Industrial Direct by 11.7% in the first quarter. American Century Companies Inc. now owns 3,503,731 shares of the industrial products company’s stock worth $298,553,000 after buying an additional 368,106 shares in the last quarter. 59 North Capital Management LP purchased a new position in shares of MSC Industrial Direct in the first quarter worth $23,130,000. Geode Capital Management LLC lifted its holdings in shares of MSC Industrial Direct by 26.7% in the fourth quarter. Geode Capital Management LLC now owns 789,186 shares of the industrial products company’s stock worth $66,338,000 after buying an additional 166,064 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of MSC Industrial Direct by 345.6% in the first quarter. SG Americas Securities LLC now owns 155,168 shares of the industrial products company’s stock worth $13,222,000 after buying an additional 120,344 shares in the last quarter. 76.00% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other MSC Industrial Direct news, Director Mitchell Jacobson bought 200,000 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were bought at an average cost of $72.25 per share, for a total transaction of $14,450,000.00. Following the acquisition, the director now directly owns 272,450 shares in the company, valued at $19,684,512.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Elizabeth Bledsoe sold 4,701 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $74.53, for a total value of $350,365.53. Following the sale, the senior vice president now directly owns 1,816 shares in the company, valued at approximately $135,346.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mitchell Jacobson purchased 200,000 shares of the stock in a transaction dated Wednesday, July 13th. The stock was purchased at an average price of $72.25 per share, for a total transaction of $14,450,000.00. Following the completion of the acquisition, the director now directly owns 272,450 shares in the company, valued at approximately $19,684,512.50. The disclosure for this purchase can be found here. Insiders have sold a total of 37,059 shares of company stock worth $3,052,688 in the last three months. Corporate insiders own 28.28% of the company’s stock.
Analyst Ratings Changes
MSC Industrial Direct Trading Down 0.9 %
Shares of MSM opened at $75.75 on Monday. The company’s fifty day simple moving average is $80.29 and its 200-day simple moving average is $80.86. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.24 billion, a P/E ratio of 14.05, a P/E/G ratio of 2.40 and a beta of 1.04. MSC Industrial Direct Co., Inc. has a twelve month low of $71.69 and a twelve month high of $87.99.
MSC Industrial Direct (NYSE:MSM – Get Rating) last posted its quarterly earnings results on Wednesday, June 29th. The industrial products company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.07. The firm had revenue of $958.60 million for the quarter, compared to analysts’ expectations of $962.54 million. MSC Industrial Direct had a net margin of 8.62% and a return on equity of 25.72%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. As a group, analysts expect that MSC Industrial Direct Co., Inc. will post 6.14 EPS for the current year.
MSC Industrial Direct Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Tuesday, July 12th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Monday, July 11th. MSC Industrial Direct’s payout ratio is 55.66%.
MSC Industrial Direct Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, 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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