Sprucegrove Investment Management Ltd. reduced its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 938,410 shares of the industrial products company’s stock after selling 90,300 shares during the period. MSC Industrial Direct comprises 2.1% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 17th largest position. Sprucegrove Investment Management Ltd. owned about 1.68% of MSC Industrial Direct worth $84,635,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Xponance Inc. grew its holdings in MSC Industrial Direct by 2.3% in the first quarter. Xponance Inc. now owns 4,924 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 111 shares during the period. Arizona State Retirement System lifted its position in shares of MSC Industrial Direct by 0.9% in the first quarter. Arizona State Retirement System now owns 13,322 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 120 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of MSC Industrial Direct by 17.5% in the fourth quarter. Van ECK Associates Corp now owns 960 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 143 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MSC Industrial Direct by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,779 shares of the industrial products company’s stock valued at $1,585,000 after acquiring an additional 190 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of MSC Industrial Direct by 1.2% in the fourth quarter. US Bancorp DE now owns 17,340 shares of the industrial products company’s stock valued at $1,463,000 after acquiring an additional 204 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors.
NYSE MSM traded up $0.15 during trading on Friday, reaching $91.88. 16 shares of the company’s stock were exchanged, compared to its average volume of 411,441. The firm has a market cap of $5.14 billion, a PE ratio of 27.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.18 and a current ratio of 2.14. The stock has a 50 day simple moving average of $92.06. MSC Industrial Direct Co., Inc. has a 1 year low of $60.09 and a 1 year high of $96.23.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 27th. Shareholders of record on Tuesday, April 13th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.27%. The ex-dividend date was Monday, April 12th. MSC Industrial Direct’s dividend payout ratio is presently 63.29%.
In other MSC Industrial Direct news, SVP Steve Armstrong sold 23,483 shares of the business’s stock in a transaction that occurred on Wednesday, April 21st. The stock was sold at an average price of $90.10, for a total transaction of $2,115,818.30. Following the transaction, the senior vice president now owns 13,180 shares in the company, valued at approximately $1,187,518. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kari D. Heerdt sold 862 shares of the business’s stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $92.00, for a total value of $79,304.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,168 shares of company stock valued at $4,832,563. 28.44% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on the company. William Blair upgraded MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 13th. KeyCorp lifted their price objective on MSC Industrial Direct from $96.00 to $102.00 and gave the stock an “overweight” rating in a research report on Monday, May 3rd. Wells Fargo & Company upgraded MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $105.00 price objective on the stock in a research report on Wednesday, April 14th. Zacks Investment Research downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Tuesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on MSC Industrial Direct from $89.00 to $94.00 and gave the stock a “hold” rating in a research note on Tuesday, April 13th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $91.67.
MSC Industrial Direct Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its 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.
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