Arrowpoint Investment Partners Singapore Pte. Ltd. Takes $365,000 Position in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• Arrowpoint Investment Partners Singapore invested $365,000 in MSC Industrial Direct, acquiring 4,700 shares, marking the firm’s latest expansion in the industrial products sector during Q1.
• MSC Industrial Direct reported a quarterly earnings of $1.08 per share, exceeding expectations by $0.05, but experienced a modest revenue decline of 0.8% year-over-year.
• The company declared a quarterly dividend of $0.85, resulting in an annualized dividend yield of 3.9% and a payout ratio of 96.05%.

Arrowpoint Investment Partners Singapore Pte. Ltd. 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 Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,700 shares of the industrial products company's stock, valued at approximately $365,000.

A number of other large investors have also recently made changes to their positions in MSM. Victory Capital Management Inc. lifted its stake in MSC Industrial Direct by 445.4% in the first quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company's stock worth $60,567,000 after acquiring an additional 636,827 shares during the last quarter. Mackenzie Financial Corp raised its stake in MSC Industrial Direct by 6,108.1% in the first quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company's stock valued at $39,298,000 after buying an additional 497,810 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in MSC Industrial Direct in the fourth quarter valued at $35,576,000. First Trust Advisors LP raised its stake in MSC Industrial Direct by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock valued at $148,443,000 after buying an additional 448,708 shares in the last quarter. Finally, Millennium Management LLC raised its stake in MSC Industrial Direct by 138.1% in the fourth quarter. Millennium Management LLC now owns 366,792 shares of the industrial products company's stock valued at $27,396,000 after buying an additional 212,730 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $195,960.00. Following the transaction, the senior vice president directly owned 14,657 shares in the company, valued at approximately $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 18.30% of the stock is owned by corporate insiders.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM traded down $0.58 during midday trading on Friday, reaching $87.00. 329,959 shares of the company were exchanged, compared to its average volume of 601,626. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $92.68. The stock has a fifty day simple moving average of $85.98 and a 200 day simple moving average of $81.15. The stock has a market cap of $4.84 billion, a P/E ratio of 24.58 and a beta of 0.92.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The company had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. During the same quarter in the previous year, the firm posted $1.33 EPS. The firm's quarterly revenue was down .8% on a year-over-year basis. On average, research analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

Wall Street Analysts Forecast Growth

MSM has been the topic of a number of analyst reports. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a research note on Tuesday, May 27th. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $73.00 to $89.00 in a report on Tuesday, May 27th. Loop Capital raised their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Stephens boosted their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Finally, Robert W. Baird lifted their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Three 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $90.33.

MSC Industrial Direct 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.