Alyeska Investment Group L.P. Acquires New Holdings in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Alyeska Investment Group acquired 419,828 shares of MSC Industrial Direct in the second quarter, worth approximately $49.9 million and representing about 0.75% of the company. Institutional investors collectively own 79.26% of MSC’s stock.
• MSC Industrial Direct exceeded quarterly expectations, reporting $1.43 in EPS versus the $1.28 consensus and $1.05 billion in revenue, up 7.8% year over year.
• The company paid a quarterly dividend of $0.87 per share, equating to a 2.9% yield, while analysts maintained a generally positive outlook with a consensus rating of “Moderate Buy.”

Alyeska Investment Group L.P. bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 419,828 shares of the industrial products company's stock, valued at approximately $49,939,000. Alyeska Investment Group L.P. owned approximately 0.75% of MSC Industrial Direct at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSM. Auto Owners Insurance Co boosted its holdings in shares of MSC Industrial Direct by 12,181.8% during the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company's stock valued at $273,718,000 after acquiring an additional 3,228,170 shares in the last quarter. Norges Bank bought a new position in MSC Industrial Direct in the fourth quarter valued at about $59,380,000. Alberta Investment Management Corp boosted its stake in shares of MSC Industrial Direct by 213.7% during the fourth quarter. Alberta Investment Management Corp now owns 619,600 shares of the industrial products company's stock valued at $52,108,000 after purchasing an additional 422,100 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of MSC Industrial Direct by 20.9% during the first quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company's stock valued at $163,607,000 after purchasing an additional 306,436 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of MSC Industrial Direct by 3,393.6% during the fourth quarter. Corient Private Wealth LLC now owns 275,432 shares of the industrial products company's stock worth $23,164,000 after purchasing an additional 267,548 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Stock Up 0.2%

MSC Industrial Direct stock opened at $119.46 on Monday. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 28.86 and a beta of 0.83. MSC Industrial Direct Company, Inc. has a 52-week low of $78.80 and a 52-week high of $130.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The firm has a 50 day moving average price of $122.04 and a two-hundred day moving average price of $107.57.

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

MSC Industrial Direct Announces Dividend

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

Analyst Upgrades and Downgrades

MSM has been the topic of several recent research reports. Weiss Ratings upgraded shares of MSC Industrial Direct from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 7th. Jefferies Financial Group set a $130.00 price target on shares of MSC Industrial Direct in a research report on Wednesday, July 1st. Rothschild & Co Redburn initiated coverage on shares of MSC Industrial Direct in a research note on Monday, July 13th. They set a "buy" rating and a $155.00 price target for the company. Wall Street Zen upgraded shares of MSC Industrial Direct from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Finally, DA Davidson boosted their price objective on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.43.

About MSC Industrial Direct

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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