IFG Advisory LLC Acquires New Position in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• IFG Advisory LLC has acquired 14,408 shares of MSC Industrial Direct, valued at approximately $1,119,000, as reported in its Form 13F filing.
• Hedge funds and institutional investors now hold 79.26% of MSC Industrial Direct's stock, indicating significant interest in the company.
• Analysts have upgraded MSC Industrial Direct's rating, with price targets ranging from $89.00 to $95.00, reflecting a generally positive outlook for the stock.

IFG Advisory LLC acquired a new position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,408 shares of the industrial products company's stock, valued at approximately $1,119,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of MSC Industrial Direct by 16.2% during the fourth quarter. LPL Financial LLC now owns 21,594 shares of the industrial products company's stock worth $1,613,000 after buying an additional 3,008 shares during the last quarter. Norges Bank acquired a new stake in MSC Industrial Direct in the fourth quarter valued at approximately $34,735,000. Pictet Asset Management Holding SA lifted its position in shares of MSC Industrial Direct by 17.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,369 shares of the industrial products company's stock worth $476,000 after purchasing an additional 936 shares during the last quarter. Alliancebernstein L.P. grew its holdings in MSC Industrial Direct by 10.5% in the 4th quarter. Alliancebernstein L.P. now owns 278,690 shares of the industrial products company's stock worth $20,815,000 after buying an additional 26,414 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of MSC Industrial Direct by 29.7% in the 4th quarter. Franklin Resources Inc. now owns 54,369 shares of the industrial products company's stock worth $4,061,000 after purchasing an additional 12,466 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Insider Buying and Selling at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $195,960.00. Following the completion of the sale, the senior vice president directly owned 14,657 shares in the company, valued at $1,348,444. This represents a 12.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 18.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MSM shares. Loop Capital increased their price objective on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a research report on Tuesday, May 27th. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their target price for the company from $73.00 to $89.00 in a research note on Tuesday, May 27th. Robert W. Baird upped their price objective on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Stephens raised their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $90.33.

MSC Industrial Direct Stock Up 0.4%

MSC Industrial Direct stock traded up $0.35 during trading hours on Thursday, hitting $85.97. 192,843 shares of the stock traded hands, compared to its average volume of 612,118. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average price is $85.30 and its two-hundred day moving average price is $80.99. The company has a market cap of $4.79 billion, a PE ratio of 24.29 and a beta of 0.92. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $92.68.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The business had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. During the same quarter last year, the company earned $1.33 EPS. The company's quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio is currently 96.05%.

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.