CI Investments Inc. Has $145,000 Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

CI Investments Inc. raised its position in MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 58,900.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,770 shares of the industrial products company’s stock after purchasing an additional 1,767 shares during the period. CI Investments Inc.’s holdings in MSC Industrial Direct were worth $145,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MSM. Quadrant Capital Group LLC lifted its position in shares of MSC Industrial Direct by 73.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 350 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 148 shares during the period. Bessemer Group Inc. lifted its position in shares of MSC Industrial Direct by 1,379.3% during the 3rd quarter. Bessemer Group Inc. now owns 429 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 400 shares during the period. Armstrong Advisory Group Inc. acquired a new position in shares of MSC Industrial Direct during the 4th quarter valued at $52,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of MSC Industrial Direct by 271.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 742 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 542 shares during the period. Finally, Huntington National Bank lifted its position in shares of MSC Industrial Direct by 24.7% during the 4th quarter. Huntington National Bank now owns 687 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 73.89% of the company’s stock.

MSC Industrial Direct Stock Performance

NYSE MSM opened at $90.63 on Thursday. MSC Industrial Direct Co., Inc. has a 1 year low of $71.32 and a 1 year high of $94.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.04 and a quick ratio of 0.88. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 13.94 and a beta of 1.03. The company has a fifty day moving average price of $87.54 and a 200-day moving average price of $84.85.

MSC Industrial Direct (NYSE:MSM – Get Rating) last posted its earnings results on Tuesday, April 4th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. MSC Industrial Direct had a net margin of 9.34% and a return on equity of 26.66%. The firm had revenue of $961.60 million during the quarter, compared to analyst estimates of $934.76 million. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that MSC Industrial Direct Co., Inc. will post 6.28 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 25th. Investors of record on Tuesday, April 11th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Monday, April 10th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 48.62%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $100.00 target price on shares of MSC Industrial Direct in a research report on Wednesday, April 5th. StockNews.com assumed coverage on shares of MSC Industrial Direct in a research note on Thursday, May 18th. They set a “buy” rating for the company. Loop Capital boosted their price target on shares of MSC Industrial Direct from $82.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, April 5th. JPMorgan Chase & Co. boosted their price target on shares of MSC Industrial Direct from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, April 5th. Finally, KeyCorp boosted their price target on shares of MSC Industrial Direct from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, April 21st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.67.

Insider Buying and Selling

In related news, SVP Kimberly Shacklett sold 6,442 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $90.99, for a total value of $586,157.58. Following the transaction, the senior vice president now directly owns 10,716 shares of the company’s stock, valued at approximately $975,048.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 28.39% of the stock is owned by insiders.

MSC Industrial Direct Profile

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MSC Industrial Direct Co, Inc engages in the distribution of metalworking and maintenance, repair, and operations products and services. Its products include cutting tools, measuring instruments, tooling components, metalworking, 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.