MSC Industrial Direct Co., Inc. (NYSE:MSM) Stock Position Lifted by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 19.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,229 shares of the industrial products company’s stock after purchasing an additional 32,499 shares during the period. Ameriprise Financial Inc.’s holdings in MSC Industrial Direct were worth $14,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MSM. Headlands Technologies LLC purchased a new position in MSC Industrial Direct during the fourth quarter valued at approximately $25,000. Allworth Financial LP grew its position in MSC Industrial Direct by 412.0% during the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 342 shares in the last quarter. Synergy Asset Management LLC purchased a new position in MSC Industrial Direct during the fourth quarter valued at approximately $36,000. UMB Bank n.a. grew its position in MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 167 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in MSC Industrial Direct by 77.0% during the fourth quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 231 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock opened at $81.56 on Friday. The firm has a fifty day simple moving average of $76.84 and a 200-day simple moving average of $79.90. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a 1-year low of $68.10 and a 1-year high of $92.77. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 19.46 and a beta of 0.90.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The business had revenue of $891.70 million during the quarter, compared to analysts’ expectations of $908.30 million. During the same period in the previous year, the company earned $1.18 earnings per share. MSC Industrial Direct’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Wednesday, April 9th. MSC Industrial Direct’s payout ratio is 89.71%.

Insider Transactions at MSC Industrial Direct

In other news, Director Mitchell Jacobson acquired 27,642 shares of MSC Industrial Direct stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the purchase, the director now owns 1,951,725 shares of the company’s stock, valued at $136,171,853.25. This represents a 1.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 18.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on MSM. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, April 4th. Loop Capital decreased their target price on shares of MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, April 4th. Finally, Wolfe Research raised shares of MSC Industrial Direct to a “strong-buy” rating in a research report on Sunday, April 6th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $82.20.

About MSC Industrial Direct

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, the United Kingdom, and internationally. The company's 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.