Wells Fargo & Company MN Has $1.47 Million Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Wells Fargo & Company MN decreased its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 62.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,692 shares of the industrial products company's stock after selling 32,217 shares during the quarter. Wells Fargo & Company MN's holdings in MSC Industrial Direct were worth $1,471,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MSM. Barclays PLC boosted its holdings in MSC Industrial Direct by 36.9% during the third 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 MSC Industrial Direct during the third quarter worth $204,000. JPMorgan Chase & Co. boosted its holdings in MSC Industrial Direct by 15.8% during the third quarter. JPMorgan Chase & Co. now owns 258,646 shares of the industrial products company's stock worth $22,259,000 after purchasing an additional 35,289 shares during the last quarter. Ridgewood Investments LLC lifted its stake in MSC Industrial Direct by 102.8% in the fourth 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 last quarter. Finally, Matrix Trust Co grew its position in shares of MSC Industrial Direct by 240.3% in 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 during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Trading Down 0.5 %

Shares of NYSE:MSM opened at $77.62 on Monday. MSC Industrial Direct Co., Inc. has a 12-month low of $68.10 and a 12-month high of $94.31. The stock has a market cap of $4.33 billion, a PE ratio of 18.53 and a beta of 0.89. The business has a 50 day moving average of $77.54 and a 200-day moving average of $80.34. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) 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 company had revenue of $891.70 million during the quarter, compared to analysts' expectations of $908.30 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The business's revenue was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MSM. Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a research note on Sunday, April 6th. 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 research report on Friday, April 4th. Finally, Loop Capital lowered their price target on 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. Seven investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, MSC Industrial Direct has an average rating of "Hold" and a consensus price target of $82.20.

Insider Activity at MSC Industrial Direct

In related news, Director Mitchell Jacobson purchased 27,642 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 18.30% of the stock is currently owned by corporate 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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