State of Alaska Department of Revenue Invests $298,000 in MSC Industrial Direct Co Inc (MSM) Stock

State of Alaska Department of Revenue bought a new position in shares of MSC Industrial Direct Co Inc (NYSE:MSM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,100 shares of the industrial products company’s stock, valued at approximately $298,000.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 8 shares during the period. Cutler Group LP increased its holdings in shares of MSC Industrial Direct by 457.8% in the 4th quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock worth $138,000 after buying an additional 1,831 shares during the last quarter. QS Investors LLC increased its holdings in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after buying an additional 8 shares during the last quarter. Zions Bancorporation bought a new position in shares of MSC Industrial Direct in the 3rd quarter worth $150,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of MSC Industrial Direct by 1,373.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock worth $167,000 after buying an additional 2,060 shares during the last quarter. 75.25% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on MSM shares. Susquehanna Bancshares reissued a “hold” rating and issued a $92.00 price target on shares of MSC Industrial Direct in a report on Wednesday, January 3rd. Raymond James Financial reissued an “outperform” rating and issued a $105.00 price target (up previously from $95.00) on shares of MSC Industrial Direct in a report on Thursday, January 4th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “hold” rating and issued a $84.00 price target on shares of MSC Industrial Direct in a report on Friday, November 3rd. Zacks Investment Research lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $112.00 price target (up previously from $100.00) on shares of MSC Industrial Direct in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $95.92.

MSC Industrial Direct Co Inc (NYSE:MSM) opened at $89.60 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. MSC Industrial Direct Co Inc has a twelve month low of $65.42 and a twelve month high of $105.70. The company has a market cap of $5,158.38, a price-to-earnings ratio of 22.07, a P/E/G ratio of 1.34 and a beta of 0.59.

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 Thomson Reuters’ consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The business had revenue of $768.60 million for the quarter, compared to the consensus estimate of $770.95 million. During the same period in the prior year, the business posted $0.95 EPS. MSC Industrial Direct’s revenue for the quarter was up 12.0% on a year-over-year basis. research analysts forecast that MSC Industrial Direct Co Inc will post 5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.59%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 56.04%.

MSC Industrial Direct declared that its board has approved a stock buyback plan on Wednesday, January 10th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

In related news, Director Mitchell Jacobson sold 11,121 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $80.79, for a total transaction of $898,465.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Rustom Jilla sold 2,500 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $99.00, for a total transaction of $247,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 961,530 shares of company stock worth $88,445,139. 31.38% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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