US Bancorp DE Has $244,000 Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

US Bancorp DE boosted its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,833 shares of the industrial products company’s stock after acquiring an additional 173 shares during the period. US Bancorp DE’s holdings in MSC Industrial Direct were worth $244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. bought a new position in shares of MSC Industrial Direct in the 3rd quarter valued at about $205,000. Frank Rimerman Advisors LLC boosted its stake in MSC Industrial Direct by 2.4% in the third quarter. Frank Rimerman Advisors LLC now owns 6,925 shares of the industrial products company’s stock valued at $596,000 after acquiring an additional 161 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in MSC Industrial Direct by 67.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 22,693 shares of the industrial products company’s stock worth $1,953,000 after acquiring an additional 9,147 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in MSC Industrial Direct by 10.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,268 shares of the industrial products company’s stock worth $2,462,000 after acquiring an additional 2,726 shares during the period. Finally, Tectonic Advisors LLC raised its position in shares of MSC Industrial Direct by 27.0% during the 3rd quarter. Tectonic Advisors LLC now owns 62,343 shares of the industrial products company’s stock valued at $5,365,000 after acquiring an additional 13,258 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Down 1.4 %

MSM stock opened at $87.48 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90. The stock has a market capitalization of $4.89 billion, a P/E ratio of 19.10 and a beta of 0.87. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $104.76. The business has a 50-day moving average of $82.82 and a 200-day moving average of $83.58.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate 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 business had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. During the same quarter in the previous year, the company posted $1.64 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The company also recently announced 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 an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, November 13th. MSC Industrial Direct’s dividend payout ratio (DPR) is 72.49%.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the completion of the sale, the chief executive officer now owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

Analyst Upgrades and Downgrades

MSM has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.20.

MSC Industrial Direct Company Profile

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.