IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $258,000 in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in MSC Industrial Direct, purchasing 3,316 shares valued at approximately $258,000.
• The recent earnings report showed MSC Industrial Direct exceeding analyst expectations with an EPS of $1.08 and revenue of $971.15 million, although revenue declined 0.8% year-over-year.
• MSC Industrial Direct announced a quarterly dividend of $0.85 per share, representing an annualized dividend of $3.40 and a yield of 3.9%.

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,316 shares of the industrial products company's stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. increased its holdings in shares of MSC Industrial Direct by 127.5% in the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock valued at $90,137,000 after purchasing an additional 676,238 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of MSC Industrial Direct by 445.4% during the 1st quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company's stock worth $60,567,000 after buying an additional 636,827 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of MSC Industrial Direct by 6,108.1% during the 1st quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company's stock worth $39,298,000 after buying an additional 497,810 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of MSC Industrial Direct during the 4th quarter worth about $35,576,000. Finally, First Trust Advisors LP grew its stake in MSC Industrial Direct by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock valued at $148,443,000 after buying an additional 448,708 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Insider Buying and Selling

In other news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were 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 owned 14,657 shares of the company's stock, valued at approximately $1,348,444. This represents a 12.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

MSC Industrial Direct Price Performance

NYSE:MSM traded up $0.35 during trading hours on Thursday, reaching $85.97. 348,029 shares of the company were exchanged, compared to its average volume of 580,855. The business has a 50 day moving average of $85.38 and a 200 day moving average of $81.02. MSC Industrial Direct Company, Inc. has a 1-year low of $68.10 and a 1-year high of $92.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. The company has a market capitalization of $4.79 billion, a P/E ratio of 24.29 and a beta of 0.92.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. During the same period in the prior year, the firm posted $1.33 EPS. MSC Industrial Direct's quarterly revenue was down .8% on a year-over-year basis. Research analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

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 yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

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.