Assenagon Asset Management S.A. Invests $2.65 Million in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Assenagon Asset Management S.A. purchased a new position in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 35,527 shares of the industrial products company's stock, valued at approximately $2,654,000. Assenagon Asset Management S.A. owned 0.06% of MSC Industrial Direct at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MSM. V Square Quantitative Management LLC bought a new stake in MSC Industrial Direct during the 3rd quarter worth approximately $26,000. UMB Bank n.a. raised its position in shares of MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 252 shares during the period. Quent Capital LLC lifted its stake in shares of MSC Industrial Direct by 57.0% during the 3rd quarter. Quent Capital LLC now owns 372 shares of the industrial products company's stock valued at $32,000 after buying an additional 135 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in MSC Industrial Direct by 53.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company's stock worth $35,000 after buying an additional 141 shares during the period. Finally, Matrix Trust Co increased its stake in MSC Industrial Direct by 121.1% in the 3rd quarter. Matrix Trust Co now owns 462 shares of the industrial products company's stock worth $40,000 after buying an additional 253 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

Shares of MSM stock traded down $0.48 on Thursday, reaching $82.39. The company's stock had a trading volume of 924,115 shares, compared to its average volume of 984,955. The stock's fifty day simple moving average is $81.26 and its 200-day simple moving average is $82.01. MSC Industrial Direct Co., Inc. has a 1 year low of $72.79 and a 1 year high of $104.76. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 19.66 and a beta of 0.91. 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 (NYSE:MSM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.13. The business had revenue of $928.50 million during the quarter, compared to analysts' expectations of $904.90 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The business's revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. Analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Wednesday, January 15th. MSC Industrial Direct's dividend payout ratio (DPR) is 81.15%.

Insider Activity

In related news, Director Philip Peller sold 900 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the transaction, the director now owns 4,044 shares of the company's stock, valued at $360,199.08. This trade represents a 18.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the sale, the chief executive officer now owns 1,402,849 shares of the company's stock, valued at $126,761,435.64. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stephens downgraded MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price objective on the stock. in a research report on Wednesday, December 4th. JPMorgan Chase & Co. dropped their price target on MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, January 16th. They set an "outperform" rating and a $95.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.80.

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.