Principal Financial Group Inc. Sells 1,445 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Principal Financial Group Inc. trimmed its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,664 shares of the industrial products company’s stock after selling 1,445 shares during the period. Principal Financial Group Inc. owned about 0.18% of MSC Industrial Direct worth $7,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of MSC Industrial Direct during the third quarter valued at approximately $12,170,000. Charles Schwab Investment Management Inc. raised its position in MSC Industrial Direct by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company’s stock valued at $134,859,000 after purchasing an additional 113,878 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of MSC Industrial Direct by 20.5% in the 4th quarter. Boston Trust Walden Corp now owns 618,103 shares of the industrial products company’s stock worth $46,166,000 after buying an additional 105,265 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of MSC Industrial Direct by 11.1% in the 3rd quarter. Pacer Advisors Inc. now owns 918,235 shares of the industrial products company’s stock worth $79,023,000 after buying an additional 91,369 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of MSC Industrial Direct by 367.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 71,794 shares of the industrial products company’s stock worth $6,179,000 after buying an additional 56,430 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Price Performance

MSM opened at $80.40 on Friday. The firm has a market capitalization of $4.49 billion, a PE ratio of 19.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91. The business’s 50-day moving average is $80.11 and its two-hundred day moving average is $81.77. MSC Industrial Direct Co., Inc. has a 1 year low of $72.79 and a 1 year high of $104.76.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $928.50 million for the quarter, compared to the consensus estimate of $904.90 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. Research analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Wednesday, January 15th. MSC Industrial Direct’s payout ratio is presently 81.15%.

Analyst Ratings Changes

A number of analysts recently weighed in on MSM shares. Stephens lowered shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research note on Wednesday, December 4th. Wolfe Research began coverage on shares of MSC Industrial Direct in a report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price target for the company. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.80.

About MSC Industrial Direct

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.