Franklin Resources Inc. bought a new position in shares of MSC Industrial Direct Co Inc (NYSE:MSM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,569 shares of the industrial products company’s stock, valued at approximately $248,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ArrowMark Colorado Holdings LLC lifted its stake in MSC Industrial Direct by 13.5% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,798,812 shares of the industrial products company’s stock worth $173,873,000 after purchasing an additional 213,957 shares during the last quarter. Advisor Group Inc. lifted its stake in MSC Industrial Direct by 294.9% during the fourth quarter. Advisor Group Inc. now owns 3,846 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 2,872 shares during the last quarter. Anchor Bolt Capital LP bought a new stake in MSC Industrial Direct during the fourth quarter worth $37,496,000. Amundi Pioneer Asset Management Inc. bought a new stake in MSC Industrial Direct during the fourth quarter worth $3,152,000. Finally, Delpha Capital Management LLC bought a new stake in MSC Industrial Direct during the fourth quarter worth $111,000. Hedge funds and other institutional investors own 75.35% of the company’s stock.
A number of research analysts have recently commented on MSM shares. Credit Suisse Group set a $100.00 price target on MSC Industrial Direct and gave the company a “buy” rating in a research note on Monday, December 4th. Stifel Nicolaus reiterated a “hold” rating and issued a $93.00 price target on shares of MSC Industrial Direct in a research note on Monday, December 11th. Northcoast Research upgraded MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Wednesday, January 3rd. Finally, UBS cut MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. MSC Industrial Direct has an average rating of “Hold” and a consensus price target of $96.54.
MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.01). The company had revenue of $768.60 million for the quarter, compared to the consensus estimate of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. analysts expect that MSC Industrial Direct Co Inc will post 5.06 earnings per share for the current fiscal year.
MSC Industrial Direct declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 10th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, VP Charles Bonomo sold 1,800 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $92.19, for a total transaction of $165,942.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher Davanzo sold 12,046 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $93.43, for a total value of $1,125,457.78. Following the transaction, the senior vice president now directly owns 12,432 shares of the company’s stock, valued at $1,161,521.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 783,437 shares of company stock valued at $74,083,049. 31.28% of the stock is owned by corporate insiders.
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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