KLP Kapitalforvaltning AS Raises Stock Position in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• KLP Kapitalforvaltning AS increased its stake in MSC Industrial Direct by 40.7%, acquiring an additional 3,700 shares to reach a total of 12,800 shares valued at approximately $994,000.
• MSC Industrial Direct reported a quarterly earnings per share (EPS) of $1.08, exceeding analyst expectations, with revenue of $971.15 million, down 0.8% year-over-year.
• The company also announced a quarterly dividend of $0.85 per share, representing an annualized yield of 3.88%, with a dividend payout ratio of 96.05%.

KLP Kapitalforvaltning AS boosted its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 40.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,800 shares of the industrial products company's stock after acquiring an additional 3,700 shares during the period. KLP Kapitalforvaltning AS's holdings in MSC Industrial Direct were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of MSC Industrial Direct by 47.1% in the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after purchasing an additional 218 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in MSC Industrial Direct by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company's stock valued at $463,000 after buying an additional 337 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in MSC Industrial Direct by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock worth $705,000 after acquiring an additional 388 shares in the last quarter. Norges Bank purchased a new stake in shares of MSC Industrial Direct during the fourth quarter worth about $34,735,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of MSC Industrial Direct by 895.0% during the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 537 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Up 0.4%

Shares of MSM opened at $87.73 on Tuesday. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 24.78 and a beta of 0.87. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $92.68. The stock's 50-day moving average price is $84.50 and its 200-day moving average price is $80.76. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate 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 in the prior year, the firm posted $1.33 EPS. The business's quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is presently 96.05%.

Analysts Set New Price Targets

MSM has been the subject of a number of recent analyst reports. Industrial Alliance Securities set a $89.00 target price on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Robert W. Baird boosted their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Stephens raised their price objective on 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. Finally, JPMorgan Chase & Co. upgraded MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their target price for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.33.

Insider Buying and Selling at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the company's 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 of the company's stock, valued at approximately $1,348,444. This represents a 12.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.30% of the stock is currently owned by corporate insiders.

MSC Industrial Direct Company Profile

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.

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