Vanguard Discloses 10.9% Stake in MSC Industrial Direct

Ticker: MSM · Form: SC 13G/A · Filed: 2024-02-13T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investment

TL;DR

**Vanguard still owns 10.9% of MSC Industrial Direct, making them a key player.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in MSC Industrial Direct Co., Inc. Class A Common Stock. As of December 29, 2023, Vanguard beneficially owned 5,990,397 shares, representing 10.9% of the company's outstanding Class A shares. This filing indicates Vanguard remains a significant institutional holder, which can provide stability but also means a large block of shares could be sold if their investment strategy changes.

Why It Matters

This filing confirms Vanguard's continued significant investment in MSC Industrial Direct, signaling institutional confidence, but also highlights a large block of shares that could impact stock price if Vanguard alters its position.

Risk Assessment

Risk Level: low — The filing shows a stable, significant institutional ownership, which generally reduces volatility and provides a vote of confidence in the company.

Analyst Insight

Investors should note Vanguard's continued significant stake, which suggests institutional confidence. However, monitor future 13G/A filings for any changes in their ownership percentage, as a substantial reduction could signal a shift in institutional sentiment.

Key Numbers

5,990,397 — Shares Beneficially Owned (Represents the total number of MSC Industrial Direct Class A shares Vanguard holds, indicating their substantial investment.)
10.9% — Percentage of Class A Stock (Shows Vanguard's significant influence as a major shareholder in MSC Industrial Direct.)
December 29, 2023 — Event Date (The specific date as of which Vanguard's ownership percentage was calculated for this filing.)

Key Players & Entities

The Vanguard Group (company) — reporting person and beneficial owner of shares
MSC Industrial Direct Co., Inc. Class A (company) — the issuer of the securities
5,990,397 (dollar_amount) — number of shares beneficially owned by Vanguard
10.9% (dollar_amount) — percentage of Class A Common Stock owned by Vanguard
December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

Vanguard will maintain a significant stake in MSC Industrial Direct Co., Inc. Class A for the foreseeable future. (The Vanguard Group) — medium confidence, target: December 29, 2024

FAQ

Who filed this SC 13G/A amendment?

The Vanguard Group, with IRS Identification No. 23-1945930, filed this SC 13G/A amendment, as stated in the 'FILED BY' section and on the cover page.

What company's securities are the subject of this filing?

The subject company is MSC Industrial Direct Co., Inc. Class A, as indicated by the 'Name of issuer' on the Schedule 13G cover page and the 'SUBJECT COMPANY' data.

What is the CUSIP number for the securities mentioned in this filing?

The CUSIP number for the Common Stock of MSC Industrial Direct Co., Inc. Class A is 553530106, as listed on the Schedule 13G cover page.

What percentage of MSC Industrial Direct Co., Inc. Class A Common Stock does Vanguard beneficially own according to this filing?

The Vanguard Group beneficially owns 10.9% of the Class A Common Stock of MSC Industrial Direct Co., Inc., as stated on the cover page of the Schedule 13G/A.

What was the 'Date of Event Which Requires Filing of this Statement'?

The 'Date of Event Which Requires Filing of this Statement' was December 29, 2023, as specified on the Schedule 13G cover page.

From the Filing

0001104659-24-021504.txt : 20240213 0001104659-24-021504.hdr.sgml : 20240213 20240213170939 ACCESSION NUMBER: 0001104659-24-021504 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MSC INDUSTRIAL DIRECT CO INC CENTRAL INDEX KEY: 0001003078 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT [5084] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 113289165 STATE OF INCORPORATION: NY FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44935 FILM NUMBER: 24628996 BUSINESS ADDRESS: STREET 1: 515 BROADHOLLOW ROAD CITY: MELVILLE STATE: NY ZIP: 11747 BUSINESS PHONE: 516-812-2000 MAIL ADDRESS: STREET 1: 515 BROADHOLLOW ROAD CITY: MELVILLE STATE: NY ZIP: 11747 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01493-mscindustrialdirectc.htm SCHEDULE 13G/A mscindustrialdirectcoincclassa SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 14)* Name of issuer:  MSC Industrial Direct Co., Inc. Class A Title of Class of Securities:  Common Stock CUSIP Number:  553530106 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on the following page(s))     13G CUSIP No.:  553530106 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 16,126 7.  SOLE DISPOSITIVE POWER 4,621,890 8.  SHARED DISPOSITIVE POWER 64,466 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,686,356 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.31% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: MSC Industrial Direct Co., Inc. Class A Item 1(b) - Address of Issuer's Principal Executive Offices: 515 Broadhollow Road, Suite 1000 Melville, NY 11747-3151 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: Pennsylvania Item 2(d) - Title of Class