Geode Capital Management LLC Increases Position in MSC Industrial Direct Company, Inc. $MSM

Geode Capital Management LLC lifted its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 1,055,261 shares of the industrial products company’s stock after purchasing an additional 22,602 shares during the quarter. Geode Capital Management LLC’s holdings in MSC Industrial Direct were worth $88,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. increased its position in shares of MSC Industrial Direct by 257.4% during the third quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 260 shares during the last quarter. Quarry LP increased its position in shares of MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 210 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of MSC Industrial Direct by 130.4% during the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 326 shares during the last quarter. Allworth Financial LP increased its position in shares of MSC Industrial Direct by 25.9% during the fourth quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 129 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of MSC Industrial Direct by 79.9% during the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 333 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MSM has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a research note on Monday, April 27th. KeyCorp lifted their price target on MSC Industrial Direct from $117.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MSC Industrial Direct has an average rating of “Hold” and an average price target of $94.71.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $115.48 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.73 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $101.46 and a two-hundred day moving average of $92.83. MSC Industrial Direct Company, Inc. has a 52 week low of $78.80 and a 52 week high of $118.52. The company has a market cap of $6.45 billion, a P/E ratio of 31.04 and a beta of 0.84.

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

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were issued 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 93.55%.

About MSC Industrial Direct

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.