Cary Street Partners Financial LLC Invests $1.55 Million in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Cary Street Partners Financial LLC acquired a new stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,688 shares of the industrial products company's stock, valued at approximately $1,545,000.

Several other institutional investors have also modified their holdings of the company. Balyasny Asset Management L.P. boosted its position in shares of MSC Industrial Direct by 1,872.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 107,251 shares of the industrial products company's stock valued at $8,011,000 after purchasing an additional 101,813 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of MSC Industrial Direct during the 4th quarter worth $283,000. Beverly Hills Private Wealth LLC increased its holdings in shares of MSC Industrial Direct by 4.9% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 3,592 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 167 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of MSC Industrial Direct by 307.2% in the 4th quarter. BNP Paribas Financial Markets now owns 74,804 shares of the industrial products company's stock valued at $5,587,000 after purchasing an additional 56,433 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in MSC Industrial Direct by 19.4% during the fourth quarter. Ameriprise Financial Inc. now owns 200,229 shares of the industrial products company's stock worth $14,954,000 after buying an additional 32,499 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Trading Up 0.1 %

Shares of MSC Industrial Direct stock traded up $0.09 during trading hours on Friday, reaching $76.11. 311,810 shares of the company's stock were exchanged, compared to its average volume of 640,716. MSC Industrial Direct Co., Inc. has a 52-week low of $68.10 and a 52-week high of $94.31. The company has a fifty day moving average of $76.87 and a 200-day moving average of $79.92. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 18.16 and a beta of 0.90.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $891.70 million for the quarter, compared to analyst estimates of $908.30 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm's quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the company earned $1.18 EPS. Sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were issued a $0.85 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.47%. MSC Industrial Direct's dividend payout ratio (DPR) is presently 89.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Loop Capital reduced their price target on shares of MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Finally, Robert W. Baird dropped their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, MSC Industrial Direct has an average rating of "Hold" and a consensus price target of $82.20.

Insider Buying and Selling at MSC Industrial Direct

In other news, Director Mitchell Jacobson bought 27,642 shares of MSC Industrial Direct stock in a transaction dated Tuesday, April 8th. The shares were acquired at an average cost of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the transaction, the director now owns 1,951,725 shares in the company, valued at approximately $136,171,853.25. This trade represents a 1.44 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.30% of the stock is owned by company insiders.

About MSC Industrial Direct

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.