Sprucegrove Investment Management Ltd. Purchases 15,900 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Sprucegrove Investment Management Ltd. raised its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,220 shares of the industrial products company’s stock after purchasing an additional 15,900 shares during the period. MSC Industrial Direct accounts for 1.0% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 19th biggest position. Sprucegrove Investment Management Ltd. owned about 0.43% of MSC Industrial Direct worth $19,052,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capital Research Global Investors lifted its holdings in shares of MSC Industrial Direct by 14.8% during the 4th quarter. Capital Research Global Investors now owns 775,000 shares of the industrial products company’s stock worth $78,476,000 after acquiring an additional 100,000 shares during the last quarter. Norges Bank bought a new stake in shares of MSC Industrial Direct during the 4th quarter worth $56,088,000. Entropy Technologies LP bought a new stake in shares of MSC Industrial Direct during the 1st quarter worth $775,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of MSC Industrial Direct by 183.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,323 shares of the industrial products company’s stock worth $2,142,000 after acquiring an additional 14,451 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of MSC Industrial Direct during the 1st quarter worth $16,571,000. 79.26% of the stock is owned by institutional investors.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total value of $413,271.00. Following the transaction, the senior vice president now owns 12,897 shares in the company, valued at $1,091,086.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $86.23 on Friday. The stock has a market cap of $4.84 billion, a PE ratio of 16.74 and a beta of 0.86. The company’s fifty day moving average is $81.76 and its 200 day moving average is $86.96. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $105.77. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.33. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The firm had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. During the same quarter in the previous year, the company earned $1.74 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Research analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Tuesday, July 9th. MSC Industrial Direct’s payout ratio is 64.47%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MSM. Loop Capital dropped their price objective 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. JPMorgan Chase & Co. dropped their price objective 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. Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Stephens reiterated an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a research report on Friday, June 14th. Finally, StockNews.com cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $90.20.

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.