Concentric Capital Strategies LP Buys 21,867 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Concentric Capital Strategies LP increased its stake in MSC Industrial Direct by 116.5%, owning approximately $3.16 million worth of shares after acquiring an additional 21,867 shares.
• Several institutional investors also made significant changes in their positions, with 79.26% of the company's stock now owned by institutional investors.
• Analysts have upgraded MSC Industrial Direct's stock rating, with the average price target now set at $90.33, indicating a strong investor confidence in the company's future performance.

Concentric Capital Strategies LP lifted its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 116.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,643 shares of the industrial products company's stock after acquiring an additional 21,867 shares during the period. Concentric Capital Strategies LP owned 0.07% of MSC Industrial Direct worth $3,157,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Beverly Hills Private Wealth LLC lifted its position in shares of MSC Industrial Direct by 4.5% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,755 shares of the industrial products company's stock valued at $292,000 after acquiring an additional 163 shares during the period. Parallel Advisors LLC lifted its position in shares of MSC Industrial Direct by 6.1% during the 1st quarter. Parallel Advisors LLC now owns 3,792 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 217 shares during the period. GAMMA Investing LLC lifted its position in shares of MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 218 shares during the period. UMB Bank n.a. lifted its position in shares of MSC Industrial Direct by 51.1% during the 1st quarter. UMB Bank n.a. now owns 719 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 243 shares during the period. Finally, Investment Management Corp VA ADV lifted its position in shares of MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 268 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens boosted their target price on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Loop Capital boosted their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research note on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $73.00 to $89.00 in a research note on Tuesday, May 27th. Finally, Robert W. Baird boosted their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.33.

MSC Industrial Direct Stock Down 0.4%

Shares of NYSE MSM traded down $0.39 during trading on Friday, hitting $92.27. The stock had a trading volume of 606,273 shares, compared to its average volume of 377,752. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $93.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. The company has a market capitalization of $5.14 billion, a PE ratio of 26.07 and a beta of 0.95. The firm has a fifty day moving average of $88.41 and a two-hundred day moving average of $82.11.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted 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 net margin of 5.30% and a return on equity of 14.99%. The firm had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. During the same quarter in the prior year, the business posted $1.33 EPS. The business's revenue was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were paid a $0.85 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 annualized dividend and a dividend yield of 3.7%. MSC Industrial Direct's dividend payout ratio is presently 96.05%.

Insider Activity

In other news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction on 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 in the company, valued at $1,348,444. This represents a 12.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.30% of the stock is currently owned by insiders.

MSC Industrial Direct Company 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.