Victory Capital Management Inc. lowered its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,973 shares of the industrial products company's stock after selling 20,521 shares during the quarter. Victory Capital Management Inc. owned about 0.26% of MSC Industrial Direct worth $10,679,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of MSM. US Bancorp DE grew its stake in shares of MSC Industrial Direct by 6.5% in the third quarter. US Bancorp DE now owns 2,833 shares of the industrial products company's stock valued at $244,000 after buying an additional 173 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of MSC Industrial Direct by 892.9% in the third quarter. Farther Finance Advisors LLC now owns 695 shares of the industrial products company's stock valued at $60,000 after buying an additional 625 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of MSC Industrial Direct in the third quarter valued at about $363,000. State of New Jersey Common Pension Fund D grew its stake in shares of MSC Industrial Direct by 9.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 23,899 shares of the industrial products company's stock valued at $2,057,000 after buying an additional 2,013 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of MSC Industrial Direct in the third quarter valued at about $250,000. Institutional investors and hedge funds own 79.26% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on MSM. Wolfe Research initiated coverage on MSC Industrial Direct in a research note on Thursday, January 16th. They issued an "outperform" rating and a $95.00 target price for the company. Stephens lowered MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price objective for the company. in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $83.80.
Get Our Latest Stock Analysis on MSM
MSC Industrial Direct Price Performance
Shares of MSM opened at $74.36 on Friday. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 17.75 and a beta of 0.90. The stock has a 50 day moving average of $80.67 and a 200-day moving average of $81.65. 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 Co., Inc. has a 52 week low of $72.79 and a 52 week high of $100.35.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its earnings results on Wednesday, January 8th. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.73 by $0.13. The company had revenue of $928.50 million during the quarter, compared to analyst estimates of $904.90 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The business's revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current year.
MSC Industrial Direct Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th were given a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $3.40 annualized dividend and a dividend yield of 4.57%. MSC Industrial Direct's payout ratio is 81.15%.
About MSC Industrial Direct
(
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.
Further Reading
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