ING Groep NV Acquires Shares of 23,500 MSC Industrial Direct Company, Inc. $MSM

ING Groep NV acquired a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,500 shares of the industrial products company’s stock, valued at approximately $1,976,000.

A number of other hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of MSC Industrial Direct by 25.9% in the fourth quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 129 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of MSC Industrial Direct by 0.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company’s stock valued at $3,169,000 after acquiring an additional 136 shares during the period. GAMMA Investing LLC increased its position in shares of MSC Industrial Direct by 22.1% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 141 shares during the period. HighTower Advisors LLC increased its position in shares of MSC Industrial Direct by 0.3% in the fourth quarter. HighTower Advisors LLC now owns 50,418 shares of the industrial products company’s stock valued at $4,240,000 after acquiring an additional 147 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of MSC Industrial Direct by 42.4% in the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Trading Up 1.3%

MSM opened at $117.07 on Wednesday. The stock has a market cap of $6.54 billion, a PE ratio of 31.47 and a beta of 0.84. 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 $102.52 and a 200-day moving average of $93.27. MSC Industrial Direct Company, Inc. has a 52 week low of $78.80 and a 52 week high of $119.13.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, April 1st. The industrial products company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $917.77 million during the quarter, compared to analysts’ expectations of $931.69 million. MSC Industrial Direct had a net margin of 5.42% and a return on equity of 16.06%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts predict that MSC Industrial Direct Company, Inc. will post 4.33 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, April 22nd. Stockholders of record on Wednesday, April 8th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Wednesday, April 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 93.55%.

Analysts Set New Price Targets

MSM has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Monday, April 27th. KeyCorp boosted their price target on shares of MSC Industrial Direct from $117.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $94.71.

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.