BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,650 shares of the industrial products company’s stock after acquiring an additional 1,776 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.06% of MSC Industrial Direct worth $3,071,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSM. Contravisory Investment Management Inc. purchased a new stake in MSC Industrial Direct in the fourth quarter valued at $25,000. Future Financial Wealth Managment LLC purchased a new stake in MSC Industrial Direct in the first quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in MSC Industrial Direct in the fourth quarter valued at $40,000. Quarry LP purchased a new stake in shares of MSC Industrial Direct in the fourth quarter valued at about $40,000. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of MSC Industrial Direct in the fourth quarter valued at about $77,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Loop Capital cut their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Stephens reissued an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a report on Friday, June 14th. Robert W. Baird cut their price target on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Finally, KeyCorp lowered shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Trading Up 0.3 %

Shares of MSM opened at $76.04 on Thursday. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average is $84.83 and its two-hundred day moving average is $92.80. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $105.77. The firm has a market capitalization of $4.28 billion, a P/E ratio of 13.65 and a beta of 0.88.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share for the quarter, hitting the consensus estimate of $1.33. The company had revenue of $979.40 million for the quarter, compared to analyst estimates of $979.10 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 earnings per share. On average, research analysts predict that MSC Industrial Direct Co., Inc. will post 4.87 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th will be given a $0.83 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $3.32 annualized dividend and a dividend yield of 4.37%. MSC Industrial Direct’s dividend payout ratio is presently 59.61%.

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.