Corient Private Wealth LP Acquires 12,812 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Corient Private Wealth LP increased its MSC Industrial Direct holdings by 56.3% in the second quarter, purchasing 12,812 additional shares for a total position of 35,572 shares valued at approximately $4.23 million. Institutional investors own 79.26% of the company.
• MSC Industrial Direct reported quarterly EPS of $1.43, exceeding estimates of $1.28, while revenue rose 7.8% year over year to $1.05 billion. The company also pays a quarterly dividend of $0.87, equivalent to a 2.9% annual yield.
• Analyst sentiment is favorable, with the stock holding a “Moderate Buy” consensus rating and a $123.43 average price target; recent targets reached as high as $155.00.

Corient Private Wealth LP raised its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 56.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,572 shares of the industrial products company's stock after buying an additional 12,812 shares during the quarter. Corient Private Wealth LP owned about 0.06% of MSC Industrial Direct worth $4,231,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its stake in MSC Industrial Direct by 4.8% during the 1st quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company's stock valued at $3,650,000 after purchasing an additional 2,164 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in MSC Industrial Direct in the 1st quarter valued at $455,000. NewEdge Advisors LLC grew its position in MSC Industrial Direct by 79.9% in the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company's stock worth $58,000 after purchasing an additional 333 shares during the last quarter. United Services Automobile Association acquired a new stake in MSC Industrial Direct in the 1st quarter worth $229,000. Finally, Empowered Funds LLC acquired a new position in shares of MSC Industrial Direct during the first quarter valued at about $816,000. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock opened at $118.78 on Tuesday. The firm has a market cap of $6.63 billion, a P/E ratio of 28.69 and a beta of 0.83. The firm's 50-day simple moving average is $122.07 and its 200-day simple moving average is $107.74. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $130.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. As a group, research analysts expect that MSC Industrial Direct Company, Inc. will post 4.49 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Wednesday, July 8th. MSC Industrial Direct's dividend payout ratio is currently 84.06%.

Wall Street Analysts Forecast Growth

MSM has been the subject of several research reports. KeyCorp increased their target price on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded MSC Industrial Direct from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Zacks Research raised MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. Wall Street Zen upgraded MSC Industrial Direct from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, Rothschild & Co Redburn began coverage on MSC Industrial Direct in a report on Monday, July 13th. They set a "buy" rating and a $155.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, MSC Industrial Direct currently has an average rating of "Moderate Buy" and a consensus target price of $123.43.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc NYSE: MSM is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.

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