Public Employees Retirement Association of Colorado decreased its holdings in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 19.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,756 shares of the industrial products company’s stock after selling 1,632 shares during the period. Public Employees Retirement Association of Colorado’s holdings in MSC Industrial Direct were worth $559,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Martingale Asset Management L P bought a new position in shares of MSC Industrial Direct during the fourth quarter worth about $736,000. Poplar Forest Capital LLC grew its position in MSC Industrial Direct by 29.2% in the 4th quarter. Poplar Forest Capital LLC now owns 823,055 shares of the industrial products company’s stock valued at $63,309,000 after buying an additional 186,074 shares in the last quarter. Squarepoint Ops LLC grew its position in MSC Industrial Direct by 160.6% in the 4th quarter. Squarepoint Ops LLC now owns 95,131 shares of the industrial products company’s stock valued at $7,317,000 after buying an additional 58,632 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in MSC Industrial Direct by 38.3% in the 1st quarter. First Citizens Bank & Trust Co. now owns 5,346 shares of the industrial products company’s stock valued at $442,000 after buying an additional 1,480 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in MSC Industrial Direct by 709.7% in the 3rd quarter. Federated Investors Inc. PA now owns 235,789 shares of the industrial products company’s stock valued at $20,775,000 after buying an additional 206,669 shares in the last quarter. Hedge funds and other institutional investors own 77.16% of the company’s stock.
A number of brokerages have weighed in on MSM. ValuEngine downgraded shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Buckingham Research set a $81.00 price objective on shares of MSC Industrial Direct and gave the company a “hold” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $88.38.
MSM stock opened at $74.38 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.19 and a debt-to-equity ratio of 0.20. MSC Industrial Direct Co Inc has a one year low of $73.12 and a one year high of $95.83. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.33 and a beta of 0.85.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, April 10th. The industrial products company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.02). MSC Industrial Direct had a net margin of 8.88% and a return on equity of 21.20%. The firm had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $826.98 million. During the same period in the prior year, the company posted $1.34 earnings per share. Sell-side analysts predict that MSC Industrial Direct Co Inc will post 5.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, April 8th. MSC Industrial Direct’s dividend payout ratio is presently 49.61%.
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About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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