Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Connor Clark & Lunn Investment Management Ltd. boosted its position in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 367.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,794 shares of the industrial products company's stock after buying an additional 56,430 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.13% of MSC Industrial Direct worth $6,179,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MSM. V Square Quantitative Management LLC bought a new stake in shares of MSC Industrial Direct during the third quarter valued at approximately $26,000. UMB Bank n.a. increased its stake in 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 in the last quarter. Blue Trust Inc. increased its stake in MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 297 shares in the last quarter. Ridgewood Investments LLC acquired a new position in MSC Industrial Direct during the second quarter worth $26,000. Finally, Quest Partners LLC lifted its stake in shares of MSC Industrial Direct by 35,300.0% in the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company's stock valued at $28,000 after buying an additional 353 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Up 1.5 %

MSC Industrial Direct stock traded up $1.28 during midday trading on Friday, hitting $85.41. 472,274 shares of the stock were exchanged, compared to its average volume of 723,416. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 18.65 and a beta of 0.87. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $104.76. The business's 50-day moving average price is $83.50 and its 200-day moving average price is $83.17.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The business had revenue of $952.30 million during the quarter, compared to analysts' expectations of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. MSC Industrial Direct's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. On average, research analysts expect that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.98%. This is a boost from MSC Industrial Direct's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 13th. MSC Industrial Direct's payout ratio is presently 74.24%.

Analyst Ratings Changes

A number of research firms recently weighed in on MSM. JPMorgan Chase & Co. lowered their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Robert W. Baird boosted their price objective on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $90.20.

Insider Buying and Selling

In other news, Director Philip Peller sold 900 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total transaction 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 represents a 18.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,402,849 shares of the company's stock, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. 18.80% of the stock is owned by insiders.

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.