Geode Capital Management LLC Raises Holdings in MSC Industrial Direct Company, Inc. $MSM

Geode Capital Management LLC increased its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,055,261 shares of the industrial products company’s stock after buying an additional 22,602 shares during the quarter. Geode Capital Management LLC owned about 1.89% of MSC Industrial Direct worth $88,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Boston Partners raised its position in shares of MSC Industrial Direct by 2.1% in the 3rd quarter. Boston Partners now owns 1,764,875 shares of the industrial products company’s stock worth $162,605,000 after buying an additional 36,626 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MSC Industrial Direct by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,322,432 shares of the industrial products company’s stock worth $121,842,000 after buying an additional 15,765 shares during the period. Invesco Ltd. raised its position in shares of MSC Industrial Direct by 1.6% in the 3rd quarter. Invesco Ltd. now owns 1,246,655 shares of the industrial products company’s stock worth $114,867,000 after buying an additional 19,267 shares during the period. Epoch Investment Partners Inc. raised its position in shares of MSC Industrial Direct by 1.2% in the 3rd quarter. Epoch Investment Partners Inc. now owns 1,014,655 shares of the industrial products company’s stock worth $93,490,000 after buying an additional 11,912 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of MSC Industrial Direct by 0.6% in the 3rd quarter. Mackenzie Financial Corp now owns 511,336 shares of the industrial products company’s stock worth $47,114,000 after buying an additional 2,822 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on MSM shares. KeyCorp raised their price objective on MSC Industrial Direct from $117.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.71.

MSC Industrial Direct Trading Down 0.0%

NYSE:MSM opened at $115.48 on Monday. The business’s 50-day moving average is $101.46 and its two-hundred day moving average is $92.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.73 and a quick ratio of 0.78. MSC Industrial Direct Company, Inc. has a 12 month low of $78.80 and a 12 month high of $118.52. The firm has a market capitalization of $6.45 billion, a PE ratio of 31.04 and a beta of 0.84.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, April 1st. The industrial products company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). MSC Industrial Direct had a net margin of 5.42% and a return on equity of 16.06%. The company had revenue of $917.77 million during the quarter, compared to analysts’ expectations of $931.69 million. During the same period last year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts predict that MSC Industrial Direct Company, Inc. will post 4.33 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, April 8th. MSC Industrial Direct’s payout ratio is presently 93.55%.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.