Ceredex Value Advisors LLC Acquires 500 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

by · The Cerbat Gem

Ceredex Value Advisors LLC increased its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Free Report) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,135 shares of the industrial products company’s stock after acquiring an additional 500 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.41% of MSC Industrial Direct worth $19,719,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MSM. Quent Capital LLC grew its stake in shares of MSC Industrial Direct by 57.0% in the 3rd quarter. Quent Capital LLC now owns 372 shares of the industrial products company’s stock valued at $32,000 after buying an additional 135 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in shares of MSC Industrial Direct by 2.4% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,925 shares of the industrial products company’s stock worth $596,000 after purchasing an additional 161 shares in the last quarter. US Bancorp DE grew its position in MSC Industrial Direct by 6.5% in the 3rd quarter. US Bancorp DE now owns 2,833 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 173 shares during the period. Arizona State Retirement System raised its holdings in MSC Industrial Direct by 1.7% during the second quarter. Arizona State Retirement System now owns 12,609 shares of the industrial products company’s stock worth $1,000,000 after buying an additional 209 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of MSC Industrial Direct by 442.1% in the third quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock valued at $27,000 after buying an additional 252 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Robert W. Baird raised their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.20.

Check Out Our Latest Stock Report on MSC Industrial Direct

MSC Industrial Direct Price Performance

MSM opened at $80.70 on Friday. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $104.76. The firm has a 50-day moving average of $81.93 and a 200 day moving average of $83.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. The firm has a market cap of $4.53 billion, a P/E ratio of 17.62 and a beta of 0.86.

MSC Industrial Direct (NYSE:MSM – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The company had revenue of $952.30 million during the quarter, compared to the consensus estimate of $959.74 million. During the same period last year, the firm posted $1.64 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, research analysts expect that MSC Industrial Direct Co., Inc. will post 3.75 EPS for the current year.

MSC Industrial Direct Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.85 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Wednesday, November 13th. MSC Industrial Direct’s payout ratio is currently 74.24%.

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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