New York State Common Retirement Fund Increases Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

New York State Common Retirement Fund grew its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 40.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,293 shares of the industrial products company's stock after buying an additional 41,700 shares during the quarter. New York State Common Retirement Fund owned 0.26% of MSC Industrial Direct worth $10,777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC raised its stake in shares of MSC Industrial Direct by 36.9% in the fourth quarter. Kestra Investment Management LLC now owns 5,832 shares of the industrial products company's stock worth $436,000 after purchasing an additional 1,572 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in MSC Industrial Direct by 2,543.5% during the 4th quarter. Venturi Wealth Management LLC now owns 2,855 shares of the industrial products company's stock valued at $213,000 after acquiring an additional 2,747 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in MSC Industrial Direct by 8.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 26,035 shares of the industrial products company's stock valued at $1,945,000 after acquiring an additional 2,136 shares during the period. Allworth Financial LP boosted its holdings in shares of MSC Industrial Direct by 412.0% during the 4th quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 342 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of MSC Industrial Direct by 0.9% in the fourth quarter. Rhumbline Advisers now owns 155,601 shares of the industrial products company's stock worth $11,622,000 after acquiring an additional 1,418 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

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MSC Industrial Direct Price Performance

Shares of NYSE:MSM traded up $0.89 during midday trading on Friday, reaching $80.40. 517,664 shares of the company were exchanged, compared to its average volume of 647,703. The stock has a market cap of $4.49 billion, a PE ratio of 19.19 and a beta of 0.91. The business's fifty day moving average is $80.03 and its two-hundred day moving average is $81.75. MSC Industrial Direct Co., Inc. has a one year low of $72.79 and a one year high of $104.76. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The company had revenue of $928.50 million during the quarter, compared to analyst estimates of $904.90 million. During the same period in the prior year, the company earned $1.25 earnings per share. The firm's revenue was down 2.7% on a year-over-year basis. As a group, analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Wednesday, January 15th. MSC Industrial Direct's dividend payout ratio is currently 81.15%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MSM. Wolfe Research began coverage on shares of MSC Industrial Direct in a report on Thursday, January 16th. They issued an "outperform" rating and a $95.00 target price on the stock. Stephens cut MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 target price on the stock. in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $83.80.

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.