MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co increased its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,744 shares of the industrial products company's stock after purchasing an additional 3,735 shares during the period. CANADA LIFE ASSURANCE Co owned 0.07% of MSC Industrial Direct worth $2,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC grew its position in MSC Industrial Direct by 36.9% in the 3rd quarter. Barclays PLC now owns 25,490 shares of the industrial products company's stock worth $2,195,000 after purchasing an additional 6,864 shares during the last quarter. Fulcrum Equity Management acquired a new position in shares of MSC Industrial Direct during the third quarter worth approximately $204,000. JPMorgan Chase & Co. grew its holdings in MSC Industrial Direct by 15.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 258,646 shares of the industrial products company's stock worth $22,259,000 after buying an additional 35,289 shares in the last quarter. Ridgewood Investments LLC increased its position in MSC Industrial Direct by 102.8% in the 4th quarter. Ridgewood Investments LLC now owns 15,045 shares of the industrial products company's stock valued at $1,124,000 after acquiring an additional 7,625 shares during the period. Finally, Matrix Trust Co raised its stake in MSC Industrial Direct by 240.3% during the 4th quarter. Matrix Trust Co now owns 1,572 shares of the industrial products company's stock valued at $117,000 after acquiring an additional 1,110 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock opened at $77.62 on Friday. MSC Industrial Direct Co., Inc. has a 52 week low of $68.10 and a 52 week high of $94.31. 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 stock has a market cap of $4.33 billion, a PE ratio of 18.53 and a beta of 0.89. The company's 50-day moving average price is $77.54 and its two-hundred day moving average price is $80.35.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The business 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 revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. As a group, sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Wednesday, April 9th. MSC Industrial Direct's dividend payout ratio is presently 89.71%.

Wall Street Analysts Forecast Growth

MSM has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday, April 4th. Loop Capital dropped their price target on shares of MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Finally, Wolfe Research raised shares of MSC Industrial Direct to a "strong-buy" rating in a research note on Sunday, April 6th. Seven investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $82.20.

Insider Transactions at MSC Industrial Direct

In related 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 price of $69.77 per share, with a total value of $1,928,582.34. Following the purchase, the director now owns 1,951,725 shares of the company's stock, valued at $136,171,853.25. This trade represents a 1.44 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 18.30% of the stock is owned by insiders.

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.

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