Federated Hermes Inc. Has $2.86 Million Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Federated Hermes Inc. raised its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 102.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,311 shares of the industrial products company's stock after purchasing an additional 19,389 shares during the quarter. Federated Hermes Inc. owned 0.07% of MSC Industrial Direct worth $2,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of MSC Industrial Direct by 6.0% during the 4th quarter. American Century Companies Inc. now owns 3,418,260 shares of the industrial products company's stock valued at $255,310,000 after buying an additional 193,860 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in MSC Industrial Direct by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,693,256 shares of the industrial products company's stock valued at $126,469,000 after acquiring an additional 126,218 shares during the last quarter. Boston Partners grew its holdings in MSC Industrial Direct by 7.2% during the 4th quarter. Boston Partners now owns 1,434,415 shares of the industrial products company's stock worth $107,168,000 after acquiring an additional 96,335 shares in the last quarter. Geode Capital Management LLC increased its position in shares of MSC Industrial Direct by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,077,450 shares of the industrial products company's stock worth $80,493,000 after purchasing an additional 20,974 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of MSC Industrial Direct by 9.7% in the 4th quarter. Bank of New York Mellon Corp now owns 793,184 shares of the industrial products company's stock valued at $59,243,000 after purchasing an additional 70,076 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

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MSC Industrial Direct Price Performance

NYSE MSM traded down $0.88 on Tuesday, reaching $77.10. The company's stock had a trading volume of 550,274 shares, compared to its average volume of 631,675. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93. The firm's 50 day moving average is $78.27 and its two-hundred day moving average is $80.70. MSC Industrial Direct Co., Inc. has a twelve month low of $68.10 and a twelve month high of $94.31. The stock has a market cap of $4.30 billion, a PE ratio of 18.40 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $891.70 million for the quarter, compared to analysts' expectations of $908.30 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm's revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 earnings per share. As a group, sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.40 annualized dividend and a dividend yield of 4.41%. MSC Industrial Direct's dividend payout ratio (DPR) is presently 89.71%.

Analyst Ratings Changes

MSM has been the subject of a number of research reports. Robert W. Baird decreased their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Loop Capital cut their price target on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Finally, Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Seven analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $82.20.

Insiders Place Their Bets

In other MSC Industrial Direct news, Director Mitchell Jacobson purchased 27,642 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were purchased at an average cost of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the transaction, the director now owns 1,951,725 shares of the company's stock, valued at approximately $136,171,853.25. This represents a 1.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 18.30% of the company's stock.

MSC Industrial Direct Company 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, 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.