Allspring Global Investments Holdings LLC reduced its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 17.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 164,995 shares of the industrial products company's stock after selling 35,950 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.30% of MSC Industrial Direct worth $12,416,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in MSC Industrial Direct in the third quarter worth $26,000. First Horizon Advisors Inc. lifted its stake in MSC Industrial Direct by 53.0% in the third quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company's stock worth $35,000 after purchasing an additional 141 shares during the last quarter. UMB Bank n.a. lifted its stake in MSC Industrial Direct by 54.0% in the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company's stock worth $36,000 after purchasing an additional 167 shares during the last quarter. Synergy Asset Management LLC bought a new stake in MSC Industrial Direct in the fourth quarter worth $36,000. Finally, Farther Finance Advisors LLC lifted its stake in MSC Industrial Direct by 892.9% in the third quarter. Farther Finance Advisors LLC now owns 695 shares of the industrial products company's stock worth $60,000 after purchasing an additional 625 shares during the last quarter. 79.26% of the stock is owned by institutional investors.
MSC Industrial Direct Trading Down 2.8 %
Shares of MSM stock traded down $2.36 during mid-day trading on Friday, reaching $80.68. The stock had a trading volume of 1,210,220 shares, compared to its average volume of 678,689. The stock's 50-day moving average price is $80.11 and its two-hundred day moving average price is $81.80. MSC Industrial Direct Co., Inc. has a 52-week low of $72.79 and a 52-week high of $104.76. The firm has a market capitalization of $4.51 billion, a PE ratio of 19.26 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 announced its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company had revenue of $928.50 million for the quarter, compared to analysts' expectations of $904.90 million. During the same quarter in the previous year, the company earned $1.25 earnings per share. MSC Industrial Direct's quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.
MSC Industrial Direct Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Wednesday, January 15th. MSC Industrial Direct's dividend payout ratio is currently 81.15%.
Analysts Set New Price Targets
Several analysts have weighed in on MSM shares. Wolfe Research started coverage on shares of MSC Industrial Direct in a research note on Thursday, January 16th. They issued an "outperform" rating and a $95.00 price target for the company. Stephens downgraded shares of MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price target for the company. in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $83.80.
Check Out Our Latest Stock Analysis on MSM
About MSC Industrial Direct
(
Free Report)
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.
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