Todays Report: Today, Nordea Investment Management AB Boosts Stake in MSC Industrial Direct Co. (MSM)

Today, Nordea Investment Management AB Boosts Stake in MSC Industrial Direct Co. (MSM)

Nordea Investment Management AB increased its stake in MSC Industrial Direct Co. (NYSE:MSM) by 81.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,648 shares of the company’s stock after buying an additional 7,036 shares during the period. Nordea Investment Management AB’s holdings in MSC Industrial Direct were worth $1,149,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hussman Strategic Advisors Inc. increased its stake in shares of MSC Industrial Direct by 1,190.5% in the third quarter. Hussman Strategic Advisors Inc. now owns 27,100 shares of the company’s stock valued at $1,989,000 after buying an additional 25,000 shares during the period. Advisors Asset Management Inc. increased its stake in shares of MSC Industrial Direct by 36.6% in the third quarter. Advisors Asset Management Inc. now owns 34,921 shares of the company’s stock valued at $2,564,000 after buying an additional 9,350 shares during the period. Wells Fargo & Company MN increased its stake in shares of MSC Industrial Direct by 1.6% in the third quarter. Wells Fargo & Company MN now owns 140,744 shares of the company’s stock valued at $10,332,000 after buying an additional 2,271 shares during the period. Virginia Retirement Systems ET AL increased its stake in shares of MSC Industrial Direct by 9.0% in the third quarter. Virginia Retirement Systems ET AL now owns 15,800 shares of the company’s stock valued at $1,160,000 after buying an additional 1,300 shares during the period. Finally, Jensen Investment Management Inc. bought a new stake in shares of MSC Industrial Direct during the third quarter valued at about $465,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Shares of MSC Industrial Direct Co. (NYSE:MSM) traded up 0.81% on Friday, reaching $89.26. 242,840 shares of the company were exchanged. MSC Industrial Direct Co. has a 12-month low of $54.19 and a 12-month high of $89.33. The firm has a 50 day moving average price of $76.80 and a 200-day moving average price of $73.88. The stock has a market capitalization of $5.05 billion, a PE ratio of 23.67 and a beta of 0.45.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, November 1st. The company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.04. The firm had revenue of $745.10 million for the quarter, compared to analysts’ expectations of $736.53 million. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 17.62%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share. On average, analysts predict that MSC Industrial Direct Co. will post $3.87 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th will be paid a dividend of $0.45 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, November 11th. MSC Industrial Direct’s dividend payout ratio is presently 47.87%.

Several brokerages have issued reports on MSM. Stephens upgraded shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $102.00 price objective for the company in a research report on Monday. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Wells Fargo & Co. restated a “hold” rating on shares of MSC Industrial Direct in a research report on Sunday, September 4th. Macquarie began coverage on shares of MSC Industrial Direct in a research report on Thursday, August 25th. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Credit Suisse Group AG began coverage on shares of MSC Industrial Direct in a research report on Friday, August 19th. They set an “underperform” rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $79.11.

In related news, VP Charles Bonomo sold 4,042 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $84.00, for a total transaction of $339,528.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher Davanzo sold 3,881 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $87.00, for a total transaction of $337,647.00. Following the sale, the senior vice president now owns 10,386 shares in the company, valued at $903,582. The disclosure for this sale can be found here. Corporate insiders own 31.75% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).

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