KBC Group NV Increases Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

KBC Group NV lifted its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 2,976.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,703 shares of the industrial products company’s stock after buying an additional 43,250 shares during the period. KBC Group NV’s holdings in MSC Industrial Direct were worth $3,339,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. lifted its holdings in MSC Industrial Direct by 8,289.7% in the third quarter. Advisors Asset Management Inc. now owns 17,031 shares of the industrial products company’s stock valued at $1,466,000 after acquiring an additional 16,828 shares during the period. Barclays PLC increased its holdings 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 in the last quarter. Pathstone Holdings LLC lifted its stake in shares of MSC Industrial Direct by 36.4% in the third quarter. Pathstone Holdings LLC now owns 23,114 shares of the industrial products company’s stock valued at $1,989,000 after purchasing an additional 6,172 shares during the period. XTX Topco Ltd boosted its holdings in MSC Industrial Direct by 398.1% during the third quarter. XTX Topco Ltd now owns 15,860 shares of the industrial products company’s stock worth $1,365,000 after buying an additional 12,676 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in MSC Industrial Direct by 892.9% during the third quarter. Farther Finance Advisors LLC now owns 695 shares of the industrial products company’s stock worth $60,000 after buying an additional 625 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Performance

NYSE MSM opened at $80.53 on Friday. 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 Co., Inc. has a fifty-two week low of $72.79 and a fifty-two week high of $104.76. The business has a fifty day moving average of $81.10 and a 200-day moving average of $82.19. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 19.22 and a beta of 0.91.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. The firm had revenue of $928.50 million during the quarter, compared to the consensus estimate of $904.90 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $3.40 dividend on an annualized basis and a yield of 4.22%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 81.15%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MSM shares. JPMorgan Chase & Co. decreased their price target on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Stephens downgraded MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price on the stock. in a research report on Wednesday, December 4th. Robert W. Baird raised their price target on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MSC Industrial Direct has a consensus rating of “Hold” and a consensus price target of $83.80.

Insiders Place Their Bets

In other news, Director Philip Peller sold 900 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total transaction of $80,163.00. Following the completion of the transaction, the director now owns 4,044 shares of the company’s stock, valued at $360,199.08. This represents a 18.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,402,849 shares in the company, valued at $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is 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.