BNP Paribas Arbitrage SA Buys 240,193 Shares of MSC Industrial Direct Company, Inc. (MSM)
BNP Paribas Arbitrage SA increased its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 2,019.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,086 shares of the industrial products company’s stock after buying an additional 240,193 shares during the period. BNP Paribas Arbitrage SA’s holdings in MSC Industrial Direct were worth $21,669,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC raised its position in MSC Industrial Direct by 3.5% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,093 shares of the industrial products company’s stock worth $112,000 after buying an additional 37 shares during the period. Simplex Trading LLC bought a new position in MSC Industrial Direct during the first quarter worth approximately $139,000. PNC Financial Services Group Inc. raised its position in MSC Industrial Direct by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,569 shares of the industrial products company’s stock worth $161,000 after buying an additional 88 shares during the period. Invictus RG raised its position in MSC Industrial Direct by 796.7% in the first quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock worth $167,000 after buying an additional 1,442 shares during the period. Finally, Parametrica Management Ltd bought a new position in MSC Industrial Direct during the first quarter worth approximately $205,000. Hedge funds and other institutional investors own 77.95% of the company’s stock.
MSC Industrial Direct Company, Inc. (MSM) opened at 67.84 on Friday. The stock has a 50 day moving average price of $74.99 and a 200 day moving average price of $89.38. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 16.92 and a beta of 0.50. MSC Industrial Direct Company, Inc. has a 52 week low of $67.82 and a 52 week high of $105.70.
MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.09. The business had revenue of $743.90 million for the quarter, compared to analysts’ expectations of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 earnings per share. On average, equities analysts forecast that MSC Industrial Direct Company, Inc. will post $3.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.65%. MSC Industrial Direct’s dividend payout ratio is presently 45.11%.
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MSM has been the topic of a number of recent research reports. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Saturday, July 8th. TheStreet lowered MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday. Stifel Nicolaus restated a “hold” rating and set a $88.00 price objective (down previously from $92.00) on shares of MSC Industrial Direct in a research note on Monday, June 12th. BMO Capital Markets lowered their price objective on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating on the stock in a research note on Friday, July 14th. Finally, Northcoast Research initiated coverage on MSC Industrial Direct in a research note on Tuesday, July 25th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $90.85.
In related news, Director Philip Peller acquired 1,000 shares of MSC Industrial Direct stock in a transaction dated Wednesday, July 19th. The shares were purchased at an average cost of $72.00 per share, with a total value of $72,000.00. Following the completion of the purchase, the director now owns 2,422 shares of the company’s stock, valued at $174,384. The transaction was disclosed in a document filed with the SEC, which is available through this link. 31.28% of the stock is owned by corporate insiders.
MSC Industrial Direct Company Profile
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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