Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 168.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,751 shares of the industrial products company’s stock after purchasing an additional 8,000 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MSC Industrial Direct were worth $807,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new position in MSC Industrial Direct in the 3rd quarter worth $520,000. First Trust Advisors LP raised its holdings in MSC Industrial Direct by 24.7% during the third quarter. First Trust Advisors LP now owns 1,003,132 shares of the industrial products company’s stock valued at $63,478,000 after acquiring an additional 198,412 shares during the period. Bailard Inc. bought a new stake in MSC Industrial Direct during the second quarter valued at about $349,000. Synovus Financial Corp raised its holdings in MSC Industrial Direct by 4,305.3% during the second quarter. Synovus Financial Corp now owns 6,652 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 6,501 shares during the period. Finally, Strs Ohio purchased a new position in shares of MSC Industrial Direct during the second quarter valued at about $1,609,000. 70.41% of the stock is currently owned by institutional investors.
MSM has been the subject of a number of research analyst reports. ValuEngine upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on MSC Industrial Direct from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, November 13th. Raymond James upgraded MSC Industrial Direct from an “underperform” rating to a “market perform” rating in a research report on Wednesday, October 28th. They noted that the move was a valuation call. Wells Fargo & Company boosted their target price on MSC Industrial Direct from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Wednesday, October 28th. Finally, Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. MSC Industrial Direct has a consensus rating of “Hold” and a consensus target price of $73.13.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.15. The company had revenue of $747.70 million during the quarter, compared to analysts’ expectations of $747.80 million. MSC Industrial Direct had a return on equity of 19.38% and a net margin of 7.87%. MSC Industrial Direct’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the business earned $1.30 earnings per share. On average, research analysts predict that MSC Industrial Direct Co., Inc. will post 4.59 earnings per share for the current fiscal year.
The firm also recently disclosed a None dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a $3.50 dividend. The ex-dividend date of this dividend is Monday, November 30th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 63.29%.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. The company's MRO products comprise 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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