Teacher Retirement System of Texas Has $2.20 Million Holdings in MSC Industrial Direct Company, Inc. $MSM

Teacher Retirement System of Texas lifted its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 42.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,839 shares of the industrial products company’s stock after acquiring an additional 7,144 shares during the quarter. Teacher Retirement System of Texas’ holdings in MSC Industrial Direct were worth $2,197,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in MSC Industrial Direct during the second quarter valued at $1,352,000. Norges Bank purchased a new position in MSC Industrial Direct during the 2nd quarter valued at about $39,950,000. JPMorgan Chase & Co. increased its holdings in shares of MSC Industrial Direct by 6.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 250,401 shares of the industrial products company’s stock valued at $21,289,000 after purchasing an additional 14,107 shares during the period. Synergy Asset Management LLC lifted its position in shares of MSC Industrial Direct by 100.0% in the third quarter. Synergy Asset Management LLC now owns 48,636 shares of the industrial products company’s stock worth $4,135,000 after purchasing an additional 24,318 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of MSC Industrial Direct by 2.5% during the second quarter. American Century Companies Inc. now owns 3,743,021 shares of the industrial products company’s stock worth $318,232,000 after purchasing an additional 92,800 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, Director Philip Peller acquired 6,666 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $90.14 per share, for a total transaction of $600,873.24. Following the completion of the purchase, the director owned 9,537 shares of the company’s stock, valued at approximately $859,665.18. This trade represents a 232.18% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mitchell Jacobson acquired 51,954 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $84.43 per share, with a total value of $4,386,476.22. Following the transaction, the director directly owned 2,305,322 shares in the company, valued at $194,638,336.46. The trade was a 2.31% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 81,490 shares of company stock worth $6,930,385 in the last quarter. Insiders own 19.00% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM opened at $84.21 on Friday. The business’s 50-day simple moving average is $85.52 and its 200-day simple moving average is $87.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.73. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $94.31. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 23.01 and a beta of 0.85.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The firm had revenue of $965.68 million during the quarter, compared to analysts’ expectations of $962.52 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were paid a $0.87 dividend. The ex-dividend date was Wednesday, January 14th. This represents a $3.48 dividend on an annualized basis and a yield of 4.1%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 95.08%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MSM. Wall Street Zen upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Robert W. Baird set a $94.00 price target on shares of MSC Industrial Direct in a research note on Thursday, January 8th. Zacks Research cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 target price on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Finally, Wolfe Research downgraded MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus target price of $89.67.

MSC Industrial Direct Company 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.