Lone Peak Global Investors LLC Lowers Position in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Lone Peak Global Investors reduced its MSC Industrial Direct position by 5.7% in the second quarter, selling 9,778 shares and retaining 161,417 shares worth approximately $19.2 million. Institutional investors collectively own 79.26% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $123.43; recent targets range from $130 to $155.
• MSC Industrial Direct reported quarterly EPS of $1.43, exceeding expectations of $1.28, while revenue rose 7.8% year over year to $1.05 billion. The company also pays a quarterly dividend of $0.87, representing a 3.0% annualized yield.

Lone Peak Global Investors LLC trimmed its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,417 shares of the industrial products company's stock after selling 9,778 shares during the quarter. MSC Industrial Direct makes up approximately 2.6% of Lone Peak Global Investors LLC's holdings, making the stock its 19th largest position. Lone Peak Global Investors LLC owned 0.29% of MSC Industrial Direct worth $19,201,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MSM. Camelot Portfolios LLC purchased a new stake in MSC Industrial Direct in the second quarter worth $238,000. Two Sigma Securities LLC bought a new stake in shares of MSC Industrial Direct during the 2nd quarter valued at $311,000. Alyeska Investment Group L.P. bought a new position in shares of MSC Industrial Direct in the 2nd quarter worth about $49,939,000. Wellington Management Group LLP lifted its position in MSC Industrial Direct by 13.0% during the 2nd quarter. Wellington Management Group LLP now owns 236,504 shares of the industrial products company's stock valued at $28,132,000 after acquiring an additional 27,171 shares during the period. Finally, Empowered Funds LLC boosted its stake in MSC Industrial Direct by 211.1% during the second quarter. Empowered Funds LLC now owns 21,052 shares of the industrial products company's stock worth $2,504,000 after acquiring an additional 14,284 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

Wall Street Analysts Forecast Growth

MSM has been the subject of several recent research reports. Jefferies Financial Group set a $130.00 target price on shares of MSC Industrial Direct in a report on Wednesday, July 1st. Rothschild & Co Redburn assumed coverage on MSC Industrial Direct in a report on Monday, July 13th. They issued a "buy" rating and a $155.00 target price on the stock. Zacks Research upgraded MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of MSC Industrial Direct from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Finally, KeyCorp lifted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, MSC Industrial Direct has an average rating of "Moderate Buy" and a consensus price target of $123.43.

MSC Industrial Direct Trading Down 1.1%

MSC Industrial Direct stock opened at $117.63 on Wednesday. MSC Industrial Direct Company, Inc. has a one year low of $78.80 and a one year high of $130.46. The business's fifty day moving average is $122.09 and its 200 day moving average is $107.90. The stock has a market capitalization of $6.57 billion, a PE ratio of 28.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72.

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 (EPS) for the quarter, beating 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 business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. On average, sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 4.49 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were issued a $0.87 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $3.48 annualized dividend and a yield of 3.0%. MSC Industrial Direct's dividend payout ratio (DPR) is currently 84.06%.

MSC Industrial Direct 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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