Connor Clark & Lunn Investment Management Ltd. Acquires 56,430 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 367.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,794 shares of the industrial products company’s stock after buying an additional 56,430 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of MSC Industrial Direct worth $6,179,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pathstone Holdings LLC lifted its holdings in MSC Industrial Direct by 36.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,114 shares of the industrial products company’s stock worth $1,989,000 after purchasing an additional 6,172 shares during the last quarter. Ceera Investments LLC lifted its stake in shares of MSC Industrial Direct by 49.0% in the third quarter. Ceera Investments LLC now owns 11,006 shares of the industrial products company’s stock worth $947,000 after buying an additional 3,621 shares during the last quarter. Seizert Capital Partners LLC boosted its holdings in shares of MSC Industrial Direct by 3.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 361,783 shares of the industrial products company’s stock worth $31,135,000 after buying an additional 11,585 shares during the period. Natixis Advisors LLC grew its stake in MSC Industrial Direct by 16.2% in the 3rd quarter. Natixis Advisors LLC now owns 29,592 shares of the industrial products company’s stock valued at $2,547,000 after buying an additional 4,123 shares during the last quarter. Finally, Altrius Capital Management Inc bought a new position in MSC Industrial Direct in the 3rd quarter worth $4,645,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Buying and Selling at MSC Industrial Direct

In other news, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the sale, the chief executive officer now directly owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip Peller sold 900 shares of MSC Industrial Direct stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the completion of the sale, the director now directly owns 4,044 shares of the company’s stock, valued at $360,199.08. This trade represents a 18.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.80% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock opened at $85.47 on Friday. MSC Industrial Direct Co., Inc. has a 1-year low of $75.05 and a 1-year high of $104.76. The firm’s 50-day moving average price is $83.50 and its two-hundred day moving average price is $83.23. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 18.66 and a beta of 0.87.

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

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.98%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio is currently 74.24%.

Wall Street Analyst Weigh In

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

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.