Bank of New York Mellon Corp boosted its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 19.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 845,428 shares of the industrial products company’s stock after buying an additional 136,602 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.53% of MSC Industrial Direct worth $46,474,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MSM. Amundi Pioneer Asset Management Inc. lifted its stake in MSC Industrial Direct by 6.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 36,006 shares of the industrial products company’s stock valued at $2,978,000 after buying an additional 2,075 shares in the last quarter. State of Michigan Retirement System lifted its stake in MSC Industrial Direct by 1.5% in the 4th quarter. State of Michigan Retirement System now owns 13,300 shares of the industrial products company’s stock valued at $1,044,000 after buying an additional 200 shares in the last quarter. New York State Teachers Retirement System lifted its stake in MSC Industrial Direct by 51.2% in the 4th quarter. New York State Teachers Retirement System now owns 75,042 shares of the industrial products company’s stock valued at $5,889,000 after buying an additional 25,400 shares in the last quarter. Meritage Portfolio Management purchased a new position in MSC Industrial Direct in the 4th quarter valued at about $2,406,000. Finally, California Public Employees Retirement System raised its holdings in MSC Industrial Direct by 30.3% in the 4th quarter. California Public Employees Retirement System now owns 174,590 shares of the industrial products company’s stock valued at $13,700,000 after acquiring an additional 40,601 shares during the last quarter. 74.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE MSM opened at $65.37 on Friday. The company has a 50 day simple moving average of $59.13 and a 200-day simple moving average of $67.25. The company has a market capitalization of $3.62 billion, a P/E ratio of 13.16 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.75 and a quick ratio of 0.94. MSC Industrial Direct Co Inc has a 1 year low of $44.93 and a 1 year high of $79.87.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, April 8th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.00. The business had revenue of $786.10 million during the quarter, compared to the consensus estimate of $792.26 million. MSC Industrial Direct had a net margin of 8.05% and a return on equity of 19.23%. The business’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 EPS. As a group, research analysts expect that MSC Industrial Direct Co Inc will post 4.09 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were issued a dividend of $0.75 per share. The ex-dividend date was Monday, April 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.59%. MSC Industrial Direct’s dividend payout ratio is currently 56.71%.

A number of analysts have commented on MSM shares. Robert W. Baird increased their price objective on shares of MSC Industrial Direct from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, April 9th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a report on Tuesday. Buckingham Research cut their price objective on shares of MSC Industrial Direct from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. KeyCorp increased their price objective on shares of MSC Industrial Direct from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stephens cut their price objective on shares of MSC Industrial Direct from $78.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, April 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $69.67.

In other news, EVP Douglas E. Jones sold 3,697 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $221,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 28.75% of the stock is owned by company insiders.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

Featured Story: Management Fee

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

Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.