ARGA Investment Management LP Makes New Investment in MSC Industrial Direct Company, Inc. $MSM

Key Points

• ARGA Investment Management LP opened a new position in MSC Industrial Direct during the first quarter, buying 17,710 shares valued at about $1.63 million.
• Several other hedge funds also increased their stakes, and institutional investors now own 79.26% of the stock, indicating continued professional investor interest.
• MSC Industrial Direct reported better-than-expected quarterly results with EPS of $1.43 versus $1.28 expected, while analysts have recently turned more positive and the company also announced a $0.87 quarterly dividend.

ARGA Investment Management LP purchased a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 17,710 shares of the industrial products company's stock, valued at approximately $1,634,000.

Several other hedge funds also recently modified their holdings of the company. First Horizon Corp lifted its holdings in shares of MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company's stock valued at $37,000 after buying an additional 201 shares during the period. Quarry LP grew its holdings in MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company's stock worth $46,000 after acquiring an additional 210 shares during the period. Hantz Financial Services Inc. grew its holdings in MSC Industrial Direct by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company's stock worth $43,000 after acquiring an additional 153 shares during the period. Kestra Advisory Services LLC bought a new stake in MSC Industrial Direct in the fourth quarter worth about $48,000. Finally, EverSource Wealth Advisors LLC raised its position in MSC Industrial Direct by 130.4% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company's stock worth $49,000 after acquiring an additional 326 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MSM has been the subject of several research reports. Jefferies Financial Group set a $130.00 price objective on shares of MSC Industrial Direct in a research report on Wednesday, July 1st. DA Davidson increased their target price on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Zacks Research upgraded shares of MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of MSC Industrial Direct from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, KeyCorp upped their price target on MSC Industrial Direct from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $118.17.

MSC Industrial Direct Stock Up 1.8%

MSC Industrial Direct stock opened at $122.81 on Friday. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $127.51. 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 market cap of $6.86 billion, a PE ratio of 29.67 and a beta of 0.83. The firm's 50 day moving average price is $113.16 and its two-hundred day moving average price is $98.50.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $1.08 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts predict that MSC Industrial Direct Company, Inc. will post 4.47 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a $0.87 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. MSC Industrial Direct's payout ratio is 84.06%.

MSC Industrial Direct 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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