MetLife Investment Management LLC Has $1.89 Million Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

MetLife Investment Management LLC raised its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 8.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,231 shares of the industrial products company’s stock after purchasing an additional 2,009 shares during the period. MetLife Investment Management LLC’s holdings in MSC Industrial Direct were worth $1,885,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC bought a new stake in MSC Industrial Direct in the fourth quarter worth $25,000. Allworth Financial LP boosted its holdings in MSC Industrial Direct by 412.0% in the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 342 shares in the last quarter. UMB Bank n.a. boosted its holdings in MSC Industrial Direct by 54.0% in the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 167 shares in the last quarter. Synergy Asset Management LLC bought a new stake in MSC Industrial Direct in the fourth quarter worth $36,000. Finally, V Square Quantitative Management LLC boosted its holdings in MSC Industrial Direct by 77.0% in the fourth quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Trading Down 0.7 %

Shares of MSM opened at $77.10 on Tuesday. The stock’s 50-day moving average price is $77.43 and its 200 day moving average price is $80.29. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 18.40 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a 12-month low of $68.10 and a 12-month high of $94.31.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The company had revenue of $891.70 million during the quarter, compared to the consensus estimate of $908.30 million. During the same quarter last year, the company earned $1.18 EPS. The company’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a $0.85 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.41%. MSC Industrial Direct’s dividend payout ratio is currently 89.71%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, April 4th. Loop Capital cut their target price on shares of MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, April 4th. Finally, Wolfe Research raised shares of MSC Industrial Direct to a “strong-buy” rating in a research report on Sunday, April 6th. Seven investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $82.20.

Insiders Place Their Bets

In related news, Director Mitchell Jacobson bought 27,642 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the transaction, the director now directly owns 1,951,725 shares of the company’s stock, valued at $136,171,853.25. This represents a 1.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 18.30% of the company’s stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.