Geode Capital Management LLC Has $80.49 Million Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Geode Capital Management LLC lifted its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077,450 shares of the industrial products company's stock after purchasing an additional 20,974 shares during the period. Geode Capital Management LLC owned 1.93% of MSC Industrial Direct worth $80,493,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in MSC Industrial Direct by 1.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 74,936 shares of the industrial products company's stock worth $6,449,000 after purchasing an additional 1,132 shares during the last quarter. Barclays PLC raised its stake in shares of MSC Industrial Direct by 36.9% during the third quarter. Barclays PLC now owns 25,490 shares of the industrial products company's stock worth $2,195,000 after buying an additional 6,864 shares during the last quarter. M&T Bank Corp raised its stake in shares of MSC Industrial Direct by 4.9% during the third quarter. M&T Bank Corp now owns 3,761 shares of the industrial products company's stock worth $324,000 after buying an additional 176 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in MSC Industrial Direct by 38.4% in the third quarter. Sunbelt Securities Inc. now owns 962 shares of the industrial products company's stock valued at $83,000 after buying an additional 267 shares during the period. Finally, Arete Wealth Advisors LLC bought a new position in MSC Industrial Direct in the third quarter valued at approximately $248,000. Institutional investors own 79.26% of the company's stock.

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MSC Industrial Direct Stock Down 1.1 %

Shares of NYSE MSM traded down $0.88 during mid-day trading on Tuesday, reaching $77.10. 550,274 shares of the company's stock were exchanged, compared to its average volume of 630,786. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $78.35 and a 200 day simple moving average of $80.73. MSC Industrial Direct Co., Inc. has a twelve month low of $68.10 and a twelve month high of $94.31. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 18.40 and a beta of 0.89.

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

MSC Industrial Direct Dividend Announcement

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

Insider Buying and Selling

In other news, Director Mitchell Jacobson acquired 27,642 shares of the stock in a transaction dated Tuesday, April 8th. The shares were bought at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the purchase, the director now directly owns 1,951,725 shares of the company's stock, valued at approximately $136,171,853.25. This trade represents a 1.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MSM has been the subject of several recent research reports. Loop Capital dropped 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. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a research note on Sunday, April 6th. Finally, Robert W. Baird cut their target price on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. Seven investment 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, MSC Industrial Direct has a consensus rating of "Hold" and a consensus price target of $82.20.

MSC Industrial Direct 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.