Concentric Capital Strategies LP lifted its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 116.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,643 shares of the industrial products company's stock after buying an additional 21,867 shares during the period. Concentric Capital Strategies LP owned about 0.07% of MSC Industrial Direct worth $3,157,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after purchasing an additional 218 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in MSC Industrial Direct by 6.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company's stock worth $463,000 after purchasing an additional 337 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in MSC Industrial Direct by 4.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock worth $705,000 after purchasing an additional 388 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock worth $46,000 after purchasing an additional 537 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of MSC Industrial Direct during the 1st quarter worth about $897,000. Institutional investors own 79.26% of the company's stock.
MSC Industrial Direct Stock Performance
MSM stock traded down $0.99 during mid-day trading on Tuesday, hitting $91.92. 209,856 shares of the company were exchanged, compared to its average volume of 588,259. The business has a 50 day simple moving average of $88.56 and a 200-day simple moving average of $82.18. 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 stock has a market capitalization of $5.12 billion, a PE ratio of 25.96 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 1-year low of $68.10 and a 1-year high of $94.31.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $971.15 million during the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The business's revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the business posted $1.33 earnings per share. On average, equities analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.
MSC Industrial Direct Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 annualized dividend and a yield of 3.7%. MSC Industrial Direct's dividend payout ratio (DPR) is 96.05%.
Insider Transactions at MSC Industrial Direct
In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $92.00, for a total value of $195,960.00. Following the completion of the sale, the senior vice president owned 14,657 shares of the company's stock, valued at $1,348,444. The trade was a 12.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 18.30% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research firms have recently commented on MSM. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Loop Capital increased their price objective on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price objective on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. Robert W. Baird increased their price objective on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Zacks Research downgraded shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, MSC Industrial Direct presently has a consensus rating of "Moderate Buy" and an average target price of $90.33.
View Our Latest Stock Analysis on MSC Industrial Direct
About MSC Industrial Direct
(
Free Report)
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.
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