Kera Capital Partners Inc. Invests $262,000 in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Kera Capital Partners Inc. acquired a new stake in MSC Industrial Direct during Q2, purchasing 3,085 shares valued at approximately $262,000.
• The company reported $1.08 earnings per share for the last quarter, surpassing analysts' expectations of $1.03 despite a 0.8% year-over-year revenue decline.
• MSC Industrial Direct announced a quarterly dividend of $0.85 per share, with an annualized yield of 3.7% and a payout ratio of 96.05%.

Kera Capital Partners Inc. acquired a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,085 shares of the industrial products company's stock, valued at approximately $262,000.

Several other institutional investors have also added to or reduced their stakes in the company. Voya Investment Management LLC raised its position in MSC Industrial Direct by 18.5% during the first quarter. Voya Investment Management LLC now owns 12,505 shares of the industrial products company's stock valued at $971,000 after purchasing an additional 1,956 shares in the last quarter. Bayforest Capital Ltd grew its position in MSC Industrial Direct by 494.4% during the 1st quarter. Bayforest Capital Ltd now owns 6,734 shares of the industrial products company's stock worth $523,000 after acquiring an additional 5,601 shares during the last quarter. Empowered Funds LLC acquired a new position in MSC Industrial Direct in the 1st quarter worth about $816,000. United Services Automobile Association acquired a new position in MSC Industrial Direct in the 1st quarter worth about $229,000. Finally, Kestra Investment Management LLC raised its position in MSC Industrial Direct by 98.7% in the first quarter. Kestra Investment Management LLC now owns 11,589 shares of the industrial products company's stock valued at $900,000 after purchasing an additional 5,757 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on MSM shares. Loop Capital increased their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Zacks Research downgraded MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 5th. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research report on Tuesday, May 27th. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Finally, Stephens boosted their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, MSC Industrial Direct presently has a consensus rating of "Moderate Buy" and an average price target of $90.33.

MSC Industrial Direct Trading Down 2.1%

MSM traded down $1.92 during trading on Friday, reaching $90.91. 124,784 shares of the stock traded hands, compared to its average volume of 579,435. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $5.06 billion, a PE ratio of 25.68 and a beta of 0.95. The stock's 50-day moving average is $88.82 and its 200 day moving average is $82.85. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $94.31.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The business had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The business's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Equities analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 3.7%. MSC Industrial Direct's dividend payout ratio is 96.05%.

Insider Buying and Selling

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $195,960.00. Following the sale, the senior vice president owned 14,657 shares of the company's stock, valued at approximately $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 18.30% of the company's stock.

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.