Wellington Management Group LLP Grows Stake in MSC Industrial Direct Company, Inc. $MSM

Wellington Management Group LLP grew its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 236,504 shares of the industrial products company’s stock after purchasing an additional 27,171 shares during the quarter. Wellington Management Group LLP’s holdings in MSC Industrial Direct were worth $28,132,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Auto Owners Insurance Co raised its holdings in shares of MSC Industrial Direct by 12,181.8% during the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company’s stock valued at $273,718,000 after buying an additional 3,228,170 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in MSC Industrial Direct by 11.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,796,316 shares of the industrial products company’s stock valued at $151,070,000 after acquiring an additional 187,440 shares in the last quarter. First Trust Advisors LP raised its stake in shares of MSC Industrial Direct by 20.9% during the first quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company’s stock valued at $163,607,000 after purchasing an additional 306,436 shares during the period. Boston Partners raised its stake in shares of MSC Industrial Direct by 2.1% during the third quarter. Boston Partners now owns 1,764,875 shares of the industrial products company’s stock valued at $162,605,000 after purchasing an additional 36,626 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of MSC Industrial Direct by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,357,419 shares of the industrial products company’s stock worth $125,240,000 after purchasing an additional 14,484 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Stock Up 3.0%

MSM stock opened at $121.38 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $122.13 and a 200-day simple moving average of $108.34. The company has a market capitalization of $6.78 billion, a P/E ratio of 29.32 and a beta of 0.83. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $130.46.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.15. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. MSC Industrial Direct’s payout ratio is presently 84.06%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MSM. Rothschild & Co Redburn began coverage on shares of MSC Industrial Direct in a research note on Monday, July 13th. They issued a “buy” rating and a $155.00 target price for the company. Jefferies Financial Group set a $130.00 price objective on shares of MSC Industrial Direct in a report on Wednesday, July 1st. Wall Street Zen raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. DA Davidson raised their target price on MSC Industrial Direct from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, KeyCorp lifted their target price on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.43.

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.