M&T Bank Corp purchased a new position in MSC Industrial Direct Co Inc (NYSE:MSM) during the 4th quarter, HoldingsChannel reports. The fund purchased 2,277 shares of the industrial products company’s stock, valued at approximately $220,000.
Several other institutional investors have also recently added to or reduced their stakes in MSM. Cerebellum GP LLC bought a new position in shares of MSC Industrial Direct in the fourth quarter worth $127,000. PNC Financial Services Group Inc. increased its holdings in shares of MSC Industrial Direct by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 8 shares during the period. Cutler Group LP increased its holdings in shares of MSC Industrial Direct by 457.8% in the fourth quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 1,831 shares during the period. Zions Bancorporation bought a new position in shares of MSC Industrial Direct in the third quarter worth $150,000. Finally, Iberiabank Corp bought a new position in shares of MSC Industrial Direct in the third quarter worth $205,000. 73.99% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Rustom Jilla sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $99.00, for a total transaction of $247,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Charles Bonomo sold 14,946 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $98.79, for a total value of $1,476,515.34. The disclosure for this sale can be found here. In the last three months, insiders sold 783,437 shares of company stock worth $74,083,049. 31.38% of the stock is owned by insiders.
MSC Industrial Direct Co Inc (NYSE:MSM) opened at $88.82 on Monday. The company has a market capitalization of $5,014.42, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.29 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.04. MSC Industrial Direct Co Inc has a 12 month low of $65.42 and a 12 month high of $105.29.
MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million during the quarter, compared to the consensus estimate of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. equities analysts forecast that MSC Industrial Direct Co Inc will post 5.06 EPS for the current year.
MSC Industrial Direct declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 10th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, January 12th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s dividend payout ratio is currently 56.04%.
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MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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