Hsbc Holdings PLC Invests $1.48 Million in MSC Industrial Direct Company, Inc. $MSM

Key Points

• HSBC Holdings PLC disclosed a new position in MSC Industrial Direct, buying 17,530 shares valued at about $1.48 million in the fourth quarter.
• MSC Industrial Direct has seen continued interest from other institutions, and institutional investors now own 79.26% of the company’s stock. Several analysts recently upgraded the shares, with the consensus rating sitting at Moderate Buy.
• The company reported strong quarterly results, with earnings of $1.43 per share beating estimates and revenue of $1.05 billion topping forecasts. MSC also announced a quarterly dividend of $0.87 per share, equal to a 2.8% yield.

Hsbc Holdings PLC acquired a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,530 shares of the industrial products company's stock, valued at approximately $1,481,000.

Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada raised its position in shares of MSC Industrial Direct by 4.8% in the 1st quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company's stock worth $3,650,000 after acquiring an additional 2,164 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in MSC Industrial Direct during the first quarter worth approximately $455,000. NewEdge Advisors LLC grew its stake in MSC Industrial Direct by 79.9% during the first 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 period. United Services Automobile Association bought a new stake in MSC Industrial Direct in the first quarter worth approximately $229,000. Finally, Empowered Funds LLC acquired a new position in MSC Industrial Direct in the first quarter valued at approximately $816,000. Institutional investors own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MSM. Wall Street Zen raised shares of MSC Industrial Direct from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. DA Davidson increased their target price on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Zacks Research upgraded shares of MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. Jefferies Financial Group set a $130.00 price objective on shares of MSC Industrial Direct in a research report on Wednesday, July 1st. Finally, KeyCorp increased their price target on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $118.17.

MSC Industrial Direct Stock Up 1.8%

MSM traded up $2.15 during midday trading on Friday, reaching $122.81. 610,278 shares of the company were exchanged, compared to its average volume of 849,219. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The company's fifty day moving average price is $113.16 and its 200 day moving average price is $98.50. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 29.67 and a beta of 0.83. MSC Industrial Direct Company, Inc. has a one year low of $78.80 and a one year high of $127.51.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.08 earnings per share. As a group, analysts expect that MSC Industrial Direct Company, Inc. will post 4.47 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a $0.87 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. MSC Industrial Direct's dividend payout ratio is presently 84.06%.

About MSC Industrial Direct

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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