Mirae Asset Global Investments Co. Ltd. Buys 43,643 Shares of MSC Industrial Direct Company, Inc. $MSM

Mirae Asset Global Investments Co. Ltd. purchased a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 43,643 shares of the industrial products company’s stock, valued at approximately $5,400,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of MSC Industrial Direct as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. VELA Investment Management LLC bought a new position in MSC Industrial Direct in the 2nd quarter valued at about $3,789,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of MSC Industrial Direct in the 2nd quarter valued at approximately $1,392,000. Wellington Management Group LLP lifted its holdings in shares of MSC Industrial Direct by 13.0% during the 2nd quarter. Wellington Management Group LLP now owns 236,504 shares of the industrial products company’s stock worth $28,132,000 after acquiring an additional 27,171 shares during the period. California State Teachers Retirement System lifted its holdings in shares of MSC Industrial Direct by 27.5% during the 1st quarter. California State Teachers Retirement System now owns 53,748 shares of the industrial products company’s stock worth $4,959,000 after acquiring an additional 11,580 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of MSC Industrial Direct during the 3rd quarter worth approximately $6,355,000. Institutional investors own 79.26% of the company’s stock.

Analyst Ratings Changes

MSM has been the topic of several analyst reports. Robert W. Baird set a $130.00 price target on shares of MSC Industrial Direct in a research report on Friday, October 23rd. DA Davidson set a $155.00 price objective on shares of MSC Industrial Direct in a research report on Tuesday, October 13th. Barclays upped their target price on MSC Industrial Direct from $152.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Wolfe Research initiated coverage on MSC Industrial Direct in a report on Tuesday, September 15th. They issued a “peer perform” rating on the stock. Finally, Zacks Research raised MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.22.

Insider Activity at MSC Industrial Direct

In related news, Director Reuben E. Slone bought 433 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were purchased at an average price of $115.77 per share, for a total transaction of $50,128.41. Following the completion of the transaction, the director directly owned 433 shares of the company’s stock, valued at approximately $50,128.41. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mitchell Jacobson bought 250,000 shares of the business’s stock in a transaction on Friday, October 23rd. The stock was bought at an average price of $115.94 per share, for a total transaction of $28,985,000.00. Following the transaction, the director directly owned 2,578,192 shares of the company’s stock, valued at approximately $298,915,580.48. This represents a 10.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 19.00% of the stock is owned by corporate insiders.

MSC Industrial Direct Stock Down 4.6%

MSM stock opened at $110.67 on Friday. The stock has a market capitalization of $6.18 billion, a P/E ratio of 27.81 and a beta of 0.83. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. MSC Industrial Direct Company, Inc. has a 12 month low of $78.80 and a 12 month high of $133.95. The firm has a 50-day moving average price of $122.92 and a 200-day moving average price of $109.86.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. MSC Industrial Direct had a net margin of 5.55% and a return on equity of 18.72%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.09 EPS. As a group, equities research analysts anticipate that MSC Industrial Direct Company, Inc. will post 5.51 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.87. MSC Industrial Direct’s payout ratio is currently 87.44%.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and maintenance, repair and operations (MRO) supplies. The company serves industrial and institutional customers with products used in machining, manufacturing, facility maintenance and workplace safety.

Its offerings include cutting tools, abrasives, tooling and workholding equipment, machinery, safety products, material-handling supplies, janitorial and facility-maintenance products, and other industrial consumables. MSC also provides technical support, inventory-management programs, vending and other supply-chain services designed to help customers manage procurement and production-related needs.

Founded in 1941, MSC serves customers primarily across the United States and Canada through sales representatives, customer service teams, catalogs, distribution operations and digital commerce platforms.