Alberta Investment Management Corp Has $52.11 Million Stake in MSC Industrial Direct Company, Inc. $MSM

Alberta Investment Management Corp lifted its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 213.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 619,600 shares of the industrial products company’s stock after buying an additional 422,100 shares during the period. Alberta Investment Management Corp’s holdings in MSC Industrial Direct were worth $52,108,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allworth Financial LP increased its holdings in MSC Industrial Direct by 25.9% in the fourth quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 129 shares in the last quarter. Boothbay Fund Management LLC grew its position in shares of MSC Industrial Direct by 6.0% during the 4th quarter. Boothbay Fund Management LLC now owns 2,389 shares of the industrial products company’s stock worth $201,000 after buying an additional 136 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of MSC Industrial Direct by 0.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company’s stock valued at $3,169,000 after acquiring an additional 136 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of MSC Industrial Direct by 22.1% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 141 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of MSC Industrial Direct by 0.3% during the 4th quarter. HighTower Advisors LLC now owns 50,418 shares of the industrial products company’s stock valued at $4,240,000 after acquiring an additional 147 shares during the period. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

MSM has been the topic of several research analyst reports. KeyCorp increased their target price on shares of MSC Industrial Direct from $117.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MSC Industrial Direct in a research note on Monday, April 27th. Finally, DA Davidson began coverage on shares of MSC Industrial Direct in a report on Tuesday. They set a “buy” rating and a $145.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.00.

MSC Industrial Direct Price Performance

Shares of MSM opened at $118.41 on Friday. The business’s fifty day moving average is $106.06 and its 200 day moving average is $94.66. MSC Industrial Direct Company, Inc. has a 12-month low of $78.80 and a 12-month high of $119.13. The company has a quick ratio of 0.78, a current ratio of 1.73 and a debt-to-equity ratio of 0.14. The stock has a market cap of $6.61 billion, a P/E ratio of 31.83 and a beta of 0.84.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, April 1st. The industrial products company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). MSC Industrial Direct had a net margin of 5.42% and a return on equity of 16.06%. The business had revenue of $917.77 million for the quarter, compared to the consensus estimate of $931.69 million. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.36 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a dividend of $0.87 per share. The ex-dividend date is Wednesday, July 8th. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. MSC Industrial Direct’s payout ratio is 93.55%.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.