Principal Financial Group Inc. lessened its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,664 shares of the industrial products company’s stock after selling 1,445 shares during the period. Principal Financial Group Inc.’s holdings in MSC Industrial Direct were worth $7,668,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D grew its holdings in shares of 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 valued at $1,945,000 after buying an additional 2,136 shares during the last quarter. Allworth Financial LP lifted its position in MSC Industrial Direct by 412.0% during the 4th quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 342 shares during the period. Rhumbline Advisers grew its stake in MSC Industrial Direct by 0.9% during the 4th 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 during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of MSC Industrial Direct by 77.0% in the fourth quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 231 shares during the period. Finally, GHP Investment Advisors Inc. raised its stake in shares of MSC Industrial Direct by 30.7% in the fourth quarter. GHP Investment Advisors Inc. now owns 29,666 shares of the industrial products company’s stock worth $2,216,000 after purchasing an additional 6,973 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.
MSC Industrial Direct Stock Up 1.1 %
Shares of MSM opened at $80.40 on Friday. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 19.19 and a beta of 0.91. MSC Industrial Direct Co., Inc. has a 52 week low of $72.79 and a 52 week high of $104.76. The stock’s 50-day moving average price is $80.11 and its 200-day moving average price is $81.77. 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 released its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.73 by $0.13. The business had revenue of $928.50 million for the quarter, compared to analyst estimates of $904.90 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current year.
MSC Industrial Direct Dividend Announcement
The company also recently declared 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 annualized dividend and a yield of 4.23%. MSC Industrial Direct’s dividend payout ratio is presently 81.15%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on MSM. Wolfe Research started coverage on MSC Industrial Direct in a research report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 target price on the stock. Stephens cut shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.80.
Read Our Latest Stock Analysis on MSM
MSC Industrial Direct Company Profile
(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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