Argent Capital Management LLC Buys New Shares in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Argent Capital Management acquired 149,087 shares of MSC Industrial Direct in the first quarter, worth approximately $13.8 million and representing about 0.27% of the company. Institutional investors collectively own 79.26% of MSC’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $123.43. Recent targets include $150 from DA Davidson and $155 from Rothschild & Co Redburn.
• MSC Industrial Direct exceeded quarterly expectations, reporting $1.43 EPS versus a $1.28 estimate and $1.05 billion in revenue, up 7.8% year over year. The company also paid a quarterly dividend of $0.87 per share, equivalent to a 2.8% annualized yield.

Argent Capital Management LLC acquired a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 149,087 shares of the industrial products company's stock, valued at approximately $13,756,000. Argent Capital Management LLC owned about 0.27% of MSC Industrial Direct as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp increased its position 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 worth $37,000 after acquiring an additional 201 shares in the last quarter. Quarry LP lifted its holdings in shares of MSC Industrial Direct by 71.7% during the 3rd quarter. Quarry LP now owns 503 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of MSC Industrial Direct by 42.4% during the 4th 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in MSC Industrial Direct during the 4th quarter worth $48,000. Finally, EverSource Wealth Advisors LLC increased its holdings in MSC Industrial Direct by 130.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MSM. DA Davidson upped their target price on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Zacks Research upgraded shares of MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 2nd. Rothschild & Co Redburn started coverage on shares of MSC Industrial Direct in a research report on Monday, July 13th. They set a "buy" rating and a $155.00 target price on the stock. Weiss Ratings upgraded shares of MSC Industrial Direct from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group set a $130.00 price target on shares of MSC Industrial Direct in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.43.

MSC Industrial Direct Stock Up 1.7%

MSC Industrial Direct stock opened at $123.55 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. MSC Industrial Direct Company, Inc. has a one year low of $78.80 and a one year high of $128.79. The company has a 50-day simple moving average of $118.95 and a 200-day simple moving average of $102.59. The firm has a market capitalization of $6.90 billion, a P/E ratio of 29.84 and a beta of 0.83.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted 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. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates 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 was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. As a group, equities analysts expect that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were issued a $0.87 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. MSC Industrial Direct's dividend 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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