Icon Advisers Inc. Co. Takes Position in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Icon Advisers Inc. Co. opened a new position in MSC Industrial Direct during the first quarter, buying 46,380 shares valued at about $4.28 million. The stake represents 1.0% of the firm’s holdings and makes MSM its 29th largest position.
• MSC Industrial Direct reported better-than-expected quarterly results, with EPS of $1.43 versus the $1.28 consensus and revenue of $1.05 billion versus expectations of $1.03 billion. Revenue rose 7.8% year over year, and analysts now expect full-year EPS of 4.47.
• The company continues to reward shareholders and draw bullish analyst attention. It paid a quarterly dividend of $0.87 per share, yielding 2.7%, while recent analyst moves included multiple price-target increases and a consensus rating of “Moderate Buy.”

Icon Advisers Inc. Co. bought a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 46,380 shares of the industrial products company's stock, valued at approximately $4,279,000. MSC Industrial Direct accounts for 1.0% of Icon Advisers Inc. Co.'s holdings, making the stock its 29th biggest position. Icon Advisers Inc. Co. owned 0.08% of MSC Industrial Direct as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Horizon Corp grew its position in MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 201 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of MSC Industrial Direct by 42.4% during the fourth 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 period. Quarry LP lifted its position in shares of MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company's stock worth $46,000 after purchasing an additional 210 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of MSC Industrial Direct during the fourth quarter worth $48,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of MSC Industrial Direct by 130.4% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 326 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Price Performance

MSM opened at $127.18 on Thursday. The company has a market capitalization of $7.10 billion, a P/E ratio of 30.72 and a beta of 0.83. The company has a 50-day moving average of $116.36 and a 200-day moving average of $100.76. 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 Company, Inc. has a 1-year low of $78.80 and a 1-year high of $127.55.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.28 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations 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 last year, the company posted $1.08 earnings per share. Equities analysts expect that MSC Industrial Direct Company, Inc. will post 4.47 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 22nd. Shareholders of record on Wednesday, July 8th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 8th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 84.06%.

Analyst Ratings Changes

A number of research firms recently weighed in on MSM. Wall Street Zen raised shares of MSC Industrial Direct from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. DA Davidson boosted their price objective on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. KeyCorp boosted their price objective on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Jefferies Financial Group set a $130.00 price objective on shares of MSC Industrial Direct in a research report on Wednesday, July 1st. Finally, Rothschild & Co Redburn started coverage on MSC Industrial Direct in a report on Monday, July 13th. They issued a "buy" rating and a $155.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock 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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