Van ECK Associates Corp boosted its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 18.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,592 shares of the industrial products company’s stock after acquiring an additional 402 shares during the period. Van ECK Associates Corp’s holdings in MSC Industrial Direct were worth $189,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in MSC Industrial Direct during the 2nd quarter valued at approximately $38,000. Bogart Wealth LLC acquired a new stake in shares of MSC Industrial Direct in the second quarter worth $59,000. Geneos Wealth Management Inc. increased its position in MSC Industrial Direct by 46.4% during the second quarter. Geneos Wealth Management Inc. now owns 805 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 255 shares during the period. EverSource Wealth Advisors LLC increased its position in MSC Industrial Direct by 500.7% during the second quarter. EverSource Wealth Advisors LLC now owns 805 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 671 shares during the period. Finally, Global Retirement Partners LLC increased its position in MSC Industrial Direct by 24.5% during the second quarter. Global Retirement Partners LLC now owns 824 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 162 shares during the period. 73.89% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $85.18, for a total value of $4,259,000.00. Following the completion of the transaction, the chief executive officer now owns 463,723 shares in the company, valued at approximately $39,499,925.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 28.39% of the company’s stock.
MSC Industrial Direct Stock Down 1.7 %
MSC Industrial Direct (NYSE:MSM – Get Rating) last issued its quarterly earnings data on Thursday, October 20th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.02. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. MSC Industrial Direct had a return on equity of 26.97% and a net margin of 9.34%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the business earned $1.26 earnings per share. As a group, equities research analysts expect that MSC Industrial Direct Co., Inc. will post 6.07 earnings per share for the current fiscal year.
MSC Industrial Direct Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 24th. Shareholders of record on Tuesday, January 10th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, January 9th. This represents a $3.16 annualized dividend and a yield of 4.07%. MSC Industrial Direct’s dividend payout ratio is 49.84%.
Wall Street Analysts Forecast Growth
MSM has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of MSC Industrial Direct from $92.00 to $95.00 in a research report on Friday, January 6th. KeyCorp reduced their target price on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, October 14th. Jefferies Financial Group restated a “hold” rating and set a $84.00 price objective on shares of MSC Industrial Direct in a research report on Monday, October 17th. Finally, StockNews.com initiated coverage on MSC Industrial Direct in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.
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.
- Get a free copy of the StockNews.com research report on MSC Industrial Direct (MSM)
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