LGT Group Foundation Increases Stake in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• LGT Group Foundation increased its stake in MSC Industrial Direct by 22.0%, acquiring an additional 22,381 shares, bringing their total holdings to 123,944 shares valued at approximately $9.6 million.
• MSC Industrial Direct's stock received several price target upgrades from brokerages, with JPMorgan raising its target from $73.00 to $89.00, indicating growing investor confidence.
• The company announced a quarterly dividend of $0.85 per share, reflecting an annualized dividend of $3.40 and a dividend yield of 4.0%.

LGT Group Foundation lifted its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 22.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 123,944 shares of the industrial products company's stock after acquiring an additional 22,381 shares during the period. LGT Group Foundation owned approximately 0.22% of MSC Industrial Direct worth $9,627,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after buying an additional 218 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of MSC Industrial Direct by 6.0% during the 1st 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 in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of MSC Industrial Direct by 4.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock valued at $705,000 after buying an additional 388 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after buying an additional 537 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in MSC Industrial Direct in the 1st quarter valued at $897,000. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Trading Down 0.7%

Shares of NYSE:MSM traded down $0.58 during midday trading on Friday, reaching $87.00. 329,959 shares of the company's stock were exchanged, compared to its average volume of 444,160. The firm's 50 day simple moving average is $86.10 and its two-hundred day simple moving average is $81.19. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 24.58 and a beta of 0.92. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $92.68.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $971.15 million during the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The company's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. As a group, sell-side analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is 96.05%.

Analyst Ratings Changes

MSM has been the subject of a number of recent research reports. Loop Capital raised their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research note on Tuesday, May 27th. Robert W. Baird raised their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Stephens raised their target price 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. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $90.33.

Insider Buying and Selling

In related news, SVP Kimberly Shacklett sold 2,130 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $195,960.00. Following the completion of the transaction, the senior vice president directly owned 14,657 shares in the company, valued at $1,348,444. This trade represents a 12.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 18.30% of the stock is owned by company insiders.

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.