Pictet Asset Management SA Has $238,000 Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Pictet Asset Management SA increased its position in MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) by 16.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,162 shares of the industrial products company’s stock after purchasing an additional 450 shares during the quarter. Pictet Asset Management SA’s holdings in MSC Industrial Direct were worth $238,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of MSC Industrial Direct in the 2nd quarter valued at about $38,000. Bogart Wealth LLC bought a new position in MSC Industrial Direct in the 2nd quarter valued at about $59,000. Geneos Wealth Management Inc. lifted its position in MSC Industrial Direct by 46.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 805 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 255 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in MSC Industrial Direct by 500.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 805 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 671 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in MSC Industrial Direct by 110.5% in the 2nd quarter. Janiczek Wealth Management LLC now owns 821 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 431 shares in the last quarter. 76.00% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $84.10 on Thursday. MSC Industrial Direct Co., Inc. has a 52 week low of $71.32 and a 52 week high of $87.99. The company’s 50 day moving average price is $78.86 and its two-hundred day moving average price is $79.60. The company has a quick ratio of 1.14, a current ratio of 2.13 and a debt-to-equity ratio of 0.38. The stock has a market cap of $4.70 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.79 and a beta of 1.04.

MSC Industrial Direct (NYSE:MSMGet Rating) last posted its earnings results on Thursday, October 20th. The industrial products company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.77 by $0.02. MSC Industrial Direct had a net margin of 9.20% and a return on equity of 27.04%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the firm earned $1.26 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities analysts predict that MSC Industrial Direct Co., Inc. will post 6.07 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, November 14th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.75. MSC Industrial Direct’s payout ratio is 52.06%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of MSC Industrial Direct in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. KeyCorp dropped their price target on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, October 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $84.00 price target on shares of MSC Industrial Direct in a research report on Monday, October 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, MSC Industrial Direct currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insider Buying and Selling

In related news, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $85.18, for a total value of $4,259,000.00. Following the sale, the chief executive officer now owns 463,723 shares of the company’s stock, valued at approximately $39,499,925.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.28% of the stock is currently owned by insiders.

MSC Industrial Direct Profile

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

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