Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 4.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,923 shares of the industrial products company’s stock after purchasing an additional 423 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MSC Industrial Direct were worth $1,005,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp grew its holdings in shares of MSC Industrial Direct by 62.6% during the 4th quarter. Mackenzie Financial Corp now owns 3,451 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 1,329 shares during the period. Bison Wealth LLC grew its holdings in shares of MSC Industrial Direct by 7.3% during the 4th quarter. Bison Wealth LLC now owns 2,685 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 182 shares during the period. Louisiana State Employees Retirement System purchased a new position in MSC Industrial Direct in the 4th quarter worth approximately $1,316,000. WCM Investment Management LLC purchased a new position in MSC Industrial Direct in the 4th quarter worth approximately $220,000. Finally, Sprucegrove Investment Management Ltd. boosted its holdings in MSC Industrial Direct by 2.1% in the 4th quarter. Sprucegrove Investment Management Ltd. now owns 152,820 shares of the industrial products company’s stock worth $15,475,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Activity at MSC Industrial Direct

In related news, Director Mitchell Jacobson sold 24,501 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the sale, the director now directly owns 1,683,810 shares of the company’s stock, valued at approximately $167,219,171.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of MSM opened at $93.22 on Friday. The business’s 50 day moving average is $96.66 and its two-hundred day moving average is $97.80. MSC Industrial Direct Co., Inc. has a 52-week low of $88.61 and a 52-week high of $105.77. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 16.74 and a beta of 0.95. 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 posted its quarterly earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. The business had revenue of $935.30 million for the quarter, compared to analyst estimates of $946.55 million. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 EPS. Analysts forecast that MSC Industrial Direct Co., Inc. will post 5.69 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Monday, April 8th. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

Analyst Upgrades and Downgrades

MSM has been the subject of a number of analyst reports. StockNews.com cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. KeyCorp decreased their price target on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 10th. Finally, Stephens restated an “overweight” rating and issued a $110.00 price target on shares of MSC Industrial Direct in a report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MSC Industrial Direct presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

MSC Industrial Direct Company 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.