MSC Industrial Direct Co Inc (MSM) Position Raised by Legal & General Group Plc

Legal & General Group Plc increased its position in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,618 shares of the industrial products company’s stock after purchasing an additional 2,719 shares during the quarter. Legal & General Group Plc owned 0.11% of MSC Industrial Direct worth $5,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. bought a new position in shares of MSC Industrial Direct in the fourth quarter worth about $248,000. BlackRock Inc. lifted its holdings in shares of MSC Industrial Direct by 4.8% in the first quarter. BlackRock Inc. now owns 3,867,996 shares of the industrial products company’s stock worth $354,734,000 after acquiring an additional 178,523 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of MSC Industrial Direct by 534.5% in the fourth quarter. Two Sigma Investments LP now owns 203,243 shares of the industrial products company’s stock worth $19,645,000 after acquiring an additional 171,213 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of MSC Industrial Direct by 461.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 210,426 shares of the industrial products company’s stock worth $19,298,000 after acquiring an additional 172,953 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of MSC Industrial Direct by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 376,740 shares of the industrial products company’s stock worth $36,415,000 after acquiring an additional 2,768 shares during the last quarter. 77.52% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. Stephens reaffirmed a “buy” rating and issued a $116.00 price objective on shares of MSC Industrial Direct in a research note on Tuesday, April 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $107.00 price objective on shares of MSC Industrial Direct in a research note on Tuesday, April 10th. Deutsche Bank set a $102.00 price objective on MSC Industrial Direct and gave the company a “hold” rating in a research note on Friday, April 6th. Gabelli downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $99.00 price objective for the company. in a research note on Friday, March 16th. Finally, ValuEngine downgraded MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $100.62.

NYSE:MSM opened at $84.64 on Wednesday. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.20 and a beta of 0.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 1.19. MSC Industrial Direct Co Inc has a fifty-two week low of $65.42 and a fifty-two week high of $99.94.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 24th. Shareholders of record on Tuesday, July 10th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, July 9th. MSC Industrial Direct’s dividend payout ratio is presently 57.28%.

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 100,000 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $95.00, for a total transaction of $9,500,000.00. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at approximately $4,750,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kari D. Heerdt sold 523 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $94.92, for a total transaction of $49,643.16. Following the sale, the senior vice president now directly owns 18,392 shares of the company’s stock, valued at approximately $1,745,768.64. The disclosure for this sale can be found here. Insiders have sold a total of 162,743 shares of company stock valued at $15,444,036 in the last three months. Insiders own 31.38% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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