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

Other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in MSC Industrial Direct during the 4th quarter valued at $25,000. Clearstead Trust LLC acquired a new stake in MSC Industrial Direct during the 1st quarter valued at $25,000. Investment Management Corp VA ADV lifted its stake in shares of MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock worth $31,000 after purchasing an additional 268 shares during the period. Neo Ivy Capital Management purchased a new position in shares of MSC Industrial Direct during the 1st quarter worth $32,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock worth $46,000 after purchasing an additional 537 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Trading Up 0.0%

Shares of MSM traded up $0.02 during trading hours on Friday, hitting $86.02. The stock had a trading volume of 342,279 shares, compared to its average volume of 547,387. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $92.68. The firm has a market cap of $4.79 billion, a P/E ratio of 24.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. The company's fifty day simple moving average is $85.47 and its 200 day simple moving average is $81.03.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $971.15 million during the quarter, compared to the consensus estimate of $969.72 million. During the same period in the prior year, the firm earned $1.33 EPS. The firm's quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts forecast that MSC Industrial Direct Company, 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, July 23rd. Investors 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 was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio is currently 96.05%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MSM shares. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $73.00 to $89.00 in a research note 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 report on Wednesday, July 2nd. Loop Capital increased their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research report on Tuesday, May 27th. Finally, Robert W. Baird increased their target price 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 research 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.33.

Insider Transactions at MSC Industrial Direct

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

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.