UBS Asset Management Americas Inc. lessened its position in MSC Industrial Direct Co Inc (NYSE:MSM) by 17.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 44,481 shares of the industrial products company’s stock after selling 9,389 shares during the period. UBS Asset Management Americas Inc.’s holdings in MSC Industrial Direct were worth $4,300,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its stake in MSC Industrial Direct by 0.6% in the fourth quarter. BlackRock Inc. now owns 3,689,473 shares of the industrial products company’s stock valued at $356,624,000 after acquiring an additional 22,023 shares during the period. JPMorgan Chase & Co. grew its stake in MSC Industrial Direct by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock valued at $246,031,000 after acquiring an additional 159,772 shares during the period. Bank of New York Mellon Corp grew its stake in MSC Industrial Direct by 105.3% in the third quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock valued at $89,112,000 after acquiring an additional 604,873 shares during the period. Schroder Investment Management Group grew its stake in MSC Industrial Direct by 8.7% in the fourth quarter. Schroder Investment Management Group now owns 1,048,322 shares of the industrial products company’s stock valued at $101,331,000 after acquiring an additional 83,836 shares during the period. Finally, First Trust Advisors LP grew its stake in MSC Industrial Direct by 20.3% in the fourth quarter. First Trust Advisors LP now owns 484,832 shares of the industrial products company’s stock valued at $46,864,000 after acquiring an additional 81,737 shares during the period. 75.37% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Wednesday, January 10th. Stephens set a $114.00 price objective on MSC Industrial Direct and gave the company a “buy” rating in a research note on Wednesday, January 10th. Susquehanna Bancshares reissued a “hold” rating and issued a $92.00 price objective on shares of MSC Industrial Direct in a research note on Wednesday, January 3rd. TheStreet raised MSC Industrial Direct from a “c+” rating to a “b-” rating in a research note on Tuesday, November 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $105.00 target price (up previously from $95.00) on shares of MSC Industrial Direct in a research report on Thursday, January 4th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. MSC Industrial Direct has a consensus rating of “Hold” and a consensus target price of $95.92.
MSC Industrial Direct Co Inc (NYSE:MSM) opened at $94.04 on Tuesday. The stock has a market capitalization of $5,272.99, a P/E ratio of 22.56, a P/E/G ratio of 1.36 and a beta of 0.64. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. MSC Industrial Direct Co Inc has a 1 year low of $65.42 and a 1 year high of $104.59.
MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.01). The company had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. research analysts forecast that MSC Industrial Direct Co Inc will post 5.06 EPS for the current year.
MSC Industrial Direct announced that its Board of Directors has approved a share buyback program on Wednesday, January 10th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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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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