Aviance Capital Partners LLC Makes New $234,000 Investment in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Aviance Capital Partners LLC acquired a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 3,010 shares of the industrial products company's stock, valued at approximately $234,000.

A number of other institutional investors have also added to or reduced their stakes in MSM. Invesco Ltd. increased its stake in MSC Industrial Direct by 127.5% in the 4th quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock worth $90,137,000 after acquiring an additional 676,238 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in MSC Industrial Direct in the 4th quarter worth about $35,576,000. Norges Bank bought a new position in MSC Industrial Direct in the 4th quarter worth about $34,735,000. First Trust Advisors LP increased its stake in MSC Industrial Direct by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock worth $148,443,000 after acquiring an additional 448,708 shares during the last quarter. Finally, Millennium Management LLC increased its stake in MSC Industrial Direct by 138.1% in the 4th quarter. Millennium Management LLC now owns 366,792 shares of the industrial products company's stock worth $27,396,000 after acquiring an additional 212,730 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Trading Up 1.5%

Shares of NYSE:MSM traded up $1.37 during trading on Tuesday, reaching $90.75. 1,040,003 shares of the company traded hands, compared to its average volume of 621,379. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 25.64 and a beta of 0.87. MSC Industrial Direct Company, Inc. has a 52-week low of $68.10 and a 52-week high of $91.73. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The business's fifty day moving average is $81.59 and its 200-day moving average is $79.68.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share 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 business had revenue of $971.15 million during the quarter, compared to analysts' expectations of $969.72 million. During the same quarter last year, the business posted $1.33 EPS. The business's revenue was down .8% on a year-over-year basis. As a group, analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.75%. The ex-dividend date is 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 several recent research reports. Robert W. Baird increased their price objective on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Loop Capital lifted 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 increased 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, Industrial Alliance Securities set a $89.00 price objective on MSC Industrial Direct in a research note on Tuesday, May 27th. Three investment 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.33.

About MSC Industrial Direct

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.