Allianz Asset Management GmbH Has $52.90 Million Stock Holdings in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Allianz Asset Management reduced its MSC Industrial Direct stake by 5.8% in the second quarter, selling 27,235 shares. It still held 444,741 shares worth approximately $52.9 million, or 0.80% of the company.
• Analyst sentiment remains moderately positive, with four Buy ratings and four Hold ratings. The stock has a consensus price target of $123.43, while recent analysts raised targets as high as $155.
• MSC Industrial Direct reported quarterly results above expectations, with EPS of $1.43 versus the $1.28 consensus and revenue of $1.05 billion. The company also pays a quarterly dividend of $0.87, representing an annualized yield of about 2.9%.

Allianz Asset Management GmbH decreased its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 444,741 shares of the industrial products company's stock after selling 27,235 shares during the quarter. Allianz Asset Management GmbH owned 0.80% of MSC Industrial Direct worth $52,902,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Elevation Wealth Partners LLC grew its holdings in shares of MSC Industrial Direct by 89.9% during the second quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company's stock worth $29,000 after purchasing an additional 116 shares during the last quarter. First Horizon Corp lifted its stake in shares of MSC Industrial Direct by 101.0% during the first quarter. First Horizon Corp now owns 400 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 201 shares during the period. Quarry LP lifted its stake in shares of MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 210 shares during the period. Hantz Financial Services Inc. boosted its holdings in MSC Industrial Direct by 42.4% in the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 153 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of MSC Industrial Direct during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on MSM. Zacks Research lowered shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Rothschild & Co Redburn assumed coverage on MSC Industrial Direct in a research note on Monday, July 13th. They set a "buy" rating and a $155.00 target price for the company. DA Davidson boosted their price target on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. KeyCorp raised their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised MSC Industrial Direct from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, MSC Industrial Direct currently has an average rating of "Moderate Buy" and a consensus price target of $123.43.

MSC Industrial Direct Price Performance

MSM opened at $121.38 on Tuesday. The firm has a 50-day moving average price of $122.22 and a 200-day moving average price of $108.63. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $130.46. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 29.32 and a beta of 0.83.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.28 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. MSC Industrial Direct's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. Equities analysts expect that MSC Industrial Direct Company, Inc. will post 4.49 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, July 8th. MSC Industrial Direct's dividend payout ratio is currently 84.06%.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc NYSE: MSM is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.

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