Hotchkis & Wiley Capital Management LLC bought a new stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 141,410 shares of the industrial products company's stock, valued at approximately $12,170,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.25% of MSC Industrial Direct at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of MSC Industrial Direct by 85.1% in the second quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company's stock worth $216,772,000 after buying an additional 1,256,706 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in MSC Industrial Direct by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company's stock worth $134,859,000 after purchasing an additional 113,878 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in MSC Industrial Direct by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the industrial products company's stock worth $74,467,000 after purchasing an additional 61,022 shares in the last quarter. Pacer Advisors Inc. boosted its position in MSC Industrial Direct by 11.1% during the third quarter. Pacer Advisors Inc. now owns 918,235 shares of the industrial products company's stock worth $79,023,000 after purchasing an additional 91,369 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in MSC Industrial Direct by 12.5% during the second quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company's stock worth $60,718,000 after purchasing an additional 84,967 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.
MSC Industrial Direct Stock Performance
Shares of MSM traded down $1.08 during midday trading on Wednesday, reaching $83.69. 808,995 shares of the stock were exchanged, compared to its average volume of 579,028. The business's 50-day moving average price is $83.76 and its 200 day moving average price is $82.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $104.76. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 18.51 and a beta of 0.89.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The firm had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The firm's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 EPS. On average, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current fiscal year.
MSC Industrial Direct Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.06%. The ex-dividend date was Wednesday, November 13th. This is a boost from MSC Industrial Direct's previous quarterly dividend of $0.83. MSC Industrial Direct's payout ratio is 74.24%.
Wall Street Analysts Forecast Growth
MSM has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Stephens downgraded MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price target on the stock. in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $85.20.
Read Our Latest Research Report on MSM
Insider Activity at MSC Industrial Direct
In related news, CEO Erik Gershwind sold 50,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,402,849 shares of the company's stock, valued at approximately $126,761,435.64. This represents a 3.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip Peller sold 900 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the completion of the sale, the director now directly owns 4,044 shares in the company, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. 18.80% of the stock is currently owned by insiders.
MSC Industrial Direct Company Profile
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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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