WCM Investment Management LLC Increases Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

WCM Investment Management LLC lifted its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 360.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,760 shares of the industrial products company’s stock after buying an additional 16,251 shares during the quarter. WCM Investment Management LLC’s holdings in MSC Industrial Direct were worth $1,808,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position in MSC Industrial Direct by 1,142.3% in the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 297 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in MSC Industrial Direct during the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new position in shares of MSC Industrial Direct in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. boosted its stake in shares of MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock valued at $27,000 after buying an additional 252 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of MSC Industrial Direct by 35,300.0% during the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock worth $28,000 after buying an additional 353 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Stock Up 1.4 %

MSC Industrial Direct stock opened at $90.21 on Tuesday. The company’s 50-day moving average price is $82.46 and its two-hundred day moving average price is $83.58. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 19.70 and a beta of 0.87. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $104.76. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The firm had revenue of $952.30 million during the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share. On average, analysts expect that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.77%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 72.49%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, MSC Industrial Direct presently has a consensus rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct 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.