66,526 Shares in MSC Industrial Direct Company, Inc. (NYSE:MSM) Bought by TrueMark Investments LLC

TrueMark Investments LLC bought a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 66,526 shares of the industrial products company's stock, valued at approximately $5,167,000. MSC Industrial Direct accounts for 1.4% of TrueMark Investments LLC's holdings, making the stock its 24th biggest position. TrueMark Investments LLC owned 0.12% of MSC Industrial Direct as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MSM. Headlands Technologies LLC purchased a new stake in MSC Industrial Direct during the 4th quarter worth approximately $25,000. Allworth Financial LP increased its holdings in MSC Industrial Direct by 412.0% during the 4th quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock worth $35,000 after purchasing an additional 342 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in 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 last quarter. GAMMA Investing LLC grew its position in shares of MSC Industrial Direct by 47.1% in the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after acquiring an additional 218 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of MSC Industrial Direct by 51.1% in the 1st quarter. UMB Bank n.a. now owns 719 shares of the industrial products company's stock worth $56,000 after acquiring an additional 243 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird decreased their target price 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. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a report on Tuesday, May 27th. Finally, Loop Capital dropped their target price on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, MSC Industrial Direct currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

Insider Activity

In other news, Director Mitchell Jacobson bought 27,642 shares of the stock in a transaction dated Tuesday, April 8th. The stock was bought at an average cost of $69.77 per share, with a total value of $1,928,582.34. Following the purchase, the director now owns 1,951,725 shares of the company's stock, valued at approximately $136,171,853.25. This represents a 1.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 18.30% of the company's stock.

MSC Industrial Direct Price Performance

Shares of MSM traded up $0.69 during mid-day trading on Monday, reaching $81.79. The company had a trading volume of 477,389 shares, compared to its average volume of 613,339. MSC Industrial Direct Company, Inc. has a twelve month low of $68.10 and a twelve month high of $90.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 0.88. The company's 50-day moving average is $79.31 and its 200-day moving average is $79.22. The company has a market capitalization of $4.56 billion, a P/E ratio of 21.58 and a beta of 0.87.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The business 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 16.06% and a net margin of 5.69%. MSC Industrial Direct's revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 EPS. On average, equities analysts anticipate 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, April 23rd. Stockholders of record on Wednesday, April 9th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $3.40 annualized dividend and a dividend yield of 4.16%. MSC Industrial Direct's dividend payout ratio (DPR) is currently 89.71%.

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.