Norges Bank Makes New $34.74 Million Investment in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Norges Bank bought a new position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 465,062 shares of the industrial products company’s stock, valued at approximately $34,735,000. Norges Bank owned 0.83% of MSC Industrial Direct as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP grew its stake in MSC Industrial Direct by 412.0% in the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 342 shares during the period. UMB Bank n.a. grew its position in shares of MSC Industrial Direct by 54.0% in the 4th quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock worth $36,000 after buying an additional 167 shares during the period. Synergy Asset Management LLC bought a new position in shares of MSC Industrial Direct in the 4th quarter worth about $36,000. V Square Quantitative Management LLC lifted its position in MSC Industrial Direct by 77.0% during the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 231 shares during the period. Finally, Sunbelt Securities Inc. boosted its stake in MSC Industrial Direct by 38.4% during the third quarter. Sunbelt Securities Inc. now owns 962 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 267 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MSM shares. Wolfe Research started coverage on shares of MSC Industrial Direct in a research note on Thursday, January 16th. They set an “outperform” rating and a $95.00 target price for the company. Loop Capital lowered their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research note on Friday. Finally, Robert W. Baird cut their target price on MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $82.20.

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $71.19 on Friday. The company has a 50 day moving average of $79.50 and a 200 day moving average of $81.35. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a twelve month low of $70.13 and a twelve month high of $95.88. The firm has a market cap of $3.98 billion, a P/E ratio of 16.99 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm had revenue of $891.70 million for the quarter, compared to the consensus estimate of $908.30 million. During the same period in the prior year, the company posted $1.18 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.78%. MSC Industrial Direct’s dividend payout ratio is presently 81.15%.

MSC Industrial Direct 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.