Corient Private Wealth LP Acquires 11,676 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Corient Private Wealth increased its MSC Industrial Direct stake by 51.3% in the second quarter, purchasing 11,676 additional shares and bringing its total holdings to 34,436 shares valued at approximately $4.1 million.
• Institutional investors own 79.26% of MSC Industrial Direct, while several other firms also increased their positions during recent quarters.
• MSC Industrial Direct exceeded quarterly expectations, reporting $1.43 in EPS and $1.05 billion in revenue, up 7.8% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $123.43.

Corient Private Wealth LP grew its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 51.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,436 shares of the industrial products company's stock after purchasing an additional 11,676 shares during the period. Corient Private Wealth LP owned about 0.06% of MSC Industrial Direct worth $4,096,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MSM. Elevation Wealth Partners LLC raised its stake in shares of MSC Industrial Direct by 89.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company's stock worth $29,000 after purchasing an additional 116 shares in the last quarter. First Horizon Corp raised its holdings in shares of MSC Industrial Direct by 101.0% in the 1st quarter. First Horizon Corp now owns 400 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 201 shares during the period. Hantz Financial Services Inc. lifted its stake in MSC Industrial Direct by 42.4% in the 4th quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 153 shares during the last quarter. Allworth Financial LP lifted its stake in MSC Industrial Direct by 25.9% in the 4th quarter. Allworth Financial LP now owns 628 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 129 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in MSC Industrial Direct during the second quarter worth about $143,000. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $122.17 on Friday. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 29.51 and a beta of 0.83. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. MSC Industrial Direct Company, Inc. has a 12 month low of $78.80 and a 12 month high of $130.46. The stock's 50 day moving average is $122.07 and its 200-day moving average is $110.23.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $1.08 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that MSC Industrial Direct Company, Inc. will post 4.51 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. DA Davidson boosted their price target 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. Jefferies Financial Group set a $130.00 target price on MSC Industrial Direct in a research note on Wednesday, July 1st. Weiss Ratings lowered MSC Industrial Direct from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, September 11th. KeyCorp increased their price target on MSC Industrial Direct from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Finally, Wolfe Research assumed coverage on MSC Industrial Direct in a report on Tuesday, September 15th. They set a "peer perform" rating for the company. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $123.43.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc NYSE: MSM is a distributor of metalworking and maintenance, repair and operations (MRO) supplies. The company serves industrial and institutional customers by helping them source the products, services and expertise needed to operate and maintain manufacturing facilities, equipment and workplaces.

Its product offerings include cutting tools, abrasives, fasteners, hand and power tools, safety equipment, material-handling products, janitorial supplies, plumbing and electrical items, and other industrial consumables.

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