Ridgewood Investments LLC boosted its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 15.5% during the second quarter, Holdings Channel reports. The firm owned 4,206 shares of the industrial products company’s stock after buying an additional 564 shares during the period. Ridgewood Investments LLC’s holdings in MSC Industrial Direct Co were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its stake in MSC Industrial Direct Co by 66.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 69,076 shares of the industrial products company’s stock valued at $6,381,000 after buying an additional 27,553 shares during the period. Bank of Montreal Can boosted its stake in MSC Industrial Direct Co by 21.8% in the first quarter. Bank of Montreal Can now owns 44,845 shares of the industrial products company’s stock valued at $4,609,000 after buying an additional 8,025 shares during the period. Alpha Windward LLC purchased a new stake in MSC Industrial Direct Co during the first quarter valued at approximately $469,000. Parametrica Management Ltd purchased a new stake in MSC Industrial Direct Co during the first quarter valued at approximately $205,000. Finally, Americafirst Capital Management LLC boosted its stake in MSC Industrial Direct Co by 91.4% in the first quarter. Americafirst Capital Management LLC now owns 2,226 shares of the industrial products company’s stock valued at $229,000 after buying an additional 1,063 shares during the period. Institutional investors own 76.83% of the company’s stock.

MSC Industrial Direct Co Inc (NYSE:MSM) opened at 69.73 on Friday. The stock has a 50 day moving average of $76.76 and a 200-day moving average of $90.34. MSC Industrial Direct Co Inc has a one year low of $68.43 and a one year high of $105.70. The stock has a market cap of $3.97 billion, a P/E ratio of 17.39 and a beta of 0.50.

MSC Industrial Direct Co (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, hitting the consensus estimate of $1.09. The business had revenue of $743.90 million during the quarter, compared to the consensus estimate of $744.49 million. MSC Industrial Direct Co had a net margin of 8.45% and a return on equity of 20.92%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 earnings per share. Analysts anticipate that MSC Industrial Direct Co Inc will post $3.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, July 14th. MSC Industrial Direct Co’s payout ratio is currently 45.11%.

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MSM has been the subject of several recent analyst reports. Credit Suisse Group upgraded shares of MSC Industrial Direct Co from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $92.00 to $100.00 in a research note on Wednesday, April 19th. Raymond James Financial, Inc. upgraded shares of MSC Industrial Direct Co from a “market perform” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Wednesday, April 19th. J P Morgan Chase & Co initiated coverage on shares of MSC Industrial Direct Co in a research note on Friday, June 2nd. They issued an “overweight” rating and a $91.00 target price for the company. Zacks Investment Research upgraded shares of MSC Industrial Direct Co from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Thursday, June 8th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $88.00 target price (down previously from $92.00) on shares of MSC Industrial Direct Co in a research note on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $90.85.

In related news, Director Philip Peller acquired 1,000 shares of MSC Industrial Direct Co stock in a transaction that occurred on Wednesday, July 19th. The stock was acquired at an average price of $72.00 per share, with a total value of $72,000.00. Following the completion of the acquisition, the director now directly owns 2,422 shares of the company’s stock, valued at approximately $174,384. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 31.28% of the company’s stock.

About MSC Industrial Direct Co

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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Institutional Ownership by Quarter for MSC Industrial Direct Co (NYSE:MSM)

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