MSC Industrial Direct Company, Inc. $MSM Shares Bought by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. has increased its stake in MSC Industrial Direct by 13.2%, bringing their total ownership to approximately 1.96% of the company, valued at around $84.65 million.
• Wall Street analysts are optimistic about MSC Industrial Direct, with price targets raised by several firms, including a boost from $74.00 to $84.00 by Loop Capital and from $85.00 to $90.00 by Stephens.
• The company recently declared a quarterly dividend of $0.85 per share, translating to an annualized dividend yield of 3.7%.

Epoch Investment Partners Inc. grew its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,089,926 shares of the industrial products company's stock after buying an additional 126,765 shares during the period. Epoch Investment Partners Inc. owned 1.96% of MSC Industrial Direct worth $84,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MSM. Clearstead Trust LLC bought a new stake in shares of MSC Industrial Direct in the first quarter worth about $25,000. Investment Management Corp VA ADV grew its holdings in shares of MSC Industrial Direct by 207.8% in the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 268 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of MSC Industrial Direct in the first quarter valued at $32,000. Farther Finance Advisors LLC grew its holdings in shares of MSC Industrial Direct by 895.0% in the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 537 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of MSC Industrial Direct by 47.1% in the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 218 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Trading Down 0.8%

MSM stock traded down $0.73 during midday trading on Thursday, reaching $90.98. The company's stock had a trading volume of 413,173 shares, compared to its average volume of 377,902. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. The stock has a fifty day simple moving average of $87.47 and a two-hundred day simple moving average of $81.74. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $92.68. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 25.70 and a beta of 0.92.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $969.72 million. During the same quarter last year, the firm posted $1.33 earnings per share. The business's revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

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

Insider Activity

In related news, SVP Kimberly Shacklett sold 2,130 shares of MSC Industrial Direct stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $92.00, for a total value of $195,960.00. Following the completion of the transaction, the senior vice president owned 14,657 shares in the company, valued at $1,348,444. The trade was a 12.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MSM. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their target price for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Robert W. Baird raised their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Stephens raised 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 report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 target price on shares of MSC Industrial Direct in a report on Tuesday, May 27th. Finally, Loop Capital raised their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.