Ontario Teachers Pension Plan Board Has $2.45 Million Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Ontario Teachers Pension Plan Board grew its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 109.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,782 shares of the industrial products company's stock after acquiring an additional 17,123 shares during the period. Ontario Teachers Pension Plan Board owned about 0.06% of MSC Industrial Direct worth $2,448,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of MSC Industrial Direct in the 4th quarter valued at approximately $25,000. Allworth Financial LP increased its stake in MSC Industrial Direct by 412.0% during the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 342 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company's stock worth $36,000 after purchasing an additional 167 shares during the period. Synergy Asset Management LLC bought a new position in shares of MSC Industrial Direct in the 4th quarter worth about $36,000. Finally, V Square Quantitative Management LLC boosted its holdings in shares of MSC Industrial Direct by 77.0% in the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company's stock valued at $40,000 after buying an additional 231 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

Shares of MSM stock traded up $1.40 during midday trading on Friday, reaching $77.24. 545,587 shares of the company were exchanged, compared to its average volume of 633,643. The company's 50 day moving average price is $78.04 and its two-hundred day moving average price is $80.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93. The company has a market cap of $4.30 billion, a P/E ratio of 18.44 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a 12 month low of $68.10 and a 12 month high of $94.31.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm had revenue of $891.70 million during the quarter, compared to the consensus estimate of $908.30 million. During the same period in the prior year, the firm posted $1.18 earnings per share. The firm's revenue for the quarter was down 4.7% compared to the same quarter last year. On average, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.40%. MSC Industrial Direct's payout ratio is currently 89.71%.

Analysts Set New Price Targets

MSM has been the topic of several analyst reports. Robert W. Baird dropped their target price on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a research note on Sunday, April 6th. Finally, Loop Capital reduced their price objective on 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. Seven investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $82.20.

Insider Activity

In other news, Director Mitchell Jacobson purchased 27,642 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired 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 in the company, valued at $136,171,853.25. This represents a 1.44 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.30% of the company's stock.

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.