Heartland Advisors Inc. bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,229 shares of the industrial products company’s stock, valued at approximately $244,000.
Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MSC Industrial Direct by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 123 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in MSC Industrial Direct by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 8 shares during the last quarter. QS Investors LLC boosted its holdings in MSC Industrial Direct by 0.5% in the second quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 8 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in MSC Industrial Direct by 1,373.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock valued at $167,000 after acquiring an additional 2,060 shares during the last quarter. Finally, Numeric Investors LLC acquired a new position in MSC Industrial Direct in the second quarter valued at $206,000. Hedge funds and other institutional investors own 74.70% of the company’s stock.
A number of research analysts recently weighed in on the company. TheStreet cut MSC Industrial Direct from a “b” rating to a “c+” rating in a report on Wednesday, August 16th. BMO Capital Markets lifted their target price on MSC Industrial Direct from $83.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday. Wells Fargo & Company set a $86.00 target price on MSC Industrial Direct and gave the company a “hold” rating in a report on Wednesday. BidaskClub cut MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Northcoast Research assumed coverage on MSC Industrial Direct in a report on Tuesday, July 25th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $88.86.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The company had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $745.80 million. During the same period in the prior year, the company earned $1.02 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.32%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, November 13th. MSC Industrial Direct’s dividend payout ratio is 44.55%.
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About MSC Industrial Direct
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include 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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