Trexquant Investment LP acquired a new stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,287 shares of the industrial products company's stock, valued at approximately $843,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC increased its position in shares of MSC Industrial Direct by 36.9% in the 3rd quarter. Barclays PLC now owns 25,490 shares of the industrial products company's stock valued at $2,195,000 after purchasing an additional 6,864 shares during the last quarter. Norges Bank acquired a new stake in shares of MSC Industrial Direct during the 4th quarter worth about $34,735,000. State of New Jersey Common Pension Fund D lifted its stake in MSC Industrial Direct by 8.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 26,035 shares of the industrial products company's stock worth $1,945,000 after purchasing an additional 2,136 shares during the last quarter. Rhumbline Advisers boosted its holdings in MSC Industrial Direct by 0.9% in the fourth quarter. Rhumbline Advisers now owns 155,601 shares of the industrial products company's stock valued at $11,622,000 after purchasing an additional 1,418 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in MSC Industrial Direct in the fourth quarter valued at approximately $2,654,000. 79.26% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on MSM shares. Robert W. Baird lowered their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Loop Capital reduced their target price on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a report on Friday, April 4th. Finally, Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research note on Sunday, April 6th. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $82.20.
Check Out Our Latest Research Report on MSM
Insider Activity at MSC Industrial Direct
In other MSC Industrial Direct news, Director Mitchell Jacobson bought 27,642 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average cost 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 approximately $136,171,853.25. This represents a 1.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.30% of the stock is owned by insiders.
MSC Industrial Direct Stock Performance
Shares of NYSE MSM traded down $0.88 during midday trading on Tuesday, reaching $77.10. 550,274 shares of the company were exchanged, compared to its average volume of 630,786. The stock has a fifty day simple moving average of $78.35 and a 200 day simple moving average of $80.73. 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 $4.30 billion, a P/E ratio of 18.40 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a 1 year low of $68.10 and a 1 year high of $94.31.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $891.70 million during the quarter, compared to analysts' expectations of $908.30 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The company's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 earnings per share. On average, research analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.
MSC Industrial Direct Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.41%. MSC Industrial Direct's dividend payout ratio is currently 89.71%.
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.
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