LSV Asset Management Boosts Holdings in MSC Industrial Direct Company, Inc. $MSM

Key Points

• LSV Asset Management increased its stake in MSC Industrial Direct by 1,711.1% in the fourth quarter, ending with 16,300 shares valued at about $1.37 million.
• MSC Industrial Direct reported quarterly earnings of $0.82 per share, slightly below analyst expectations, while revenue came in at $917.77 million and rose 2.9% year over year.
• The company paid a $0.87 quarterly dividend and now offers a 3.2% yield; meanwhile, Wall Street’s overall view remains Hold with an average price target of $94.29.

LSV Asset Management raised its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 1,711.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,300 shares of the industrial products company's stock after buying an additional 15,400 shares during the quarter. LSV Asset Management's holdings in MSC Industrial Direct were worth $1,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in MSC Industrial Direct by 25.9% in the 4th quarter. Allworth Financial LP now owns 628 shares of the industrial products company's stock valued at $53,000 after buying an additional 129 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in MSC Industrial Direct by 0.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company's stock valued at $3,169,000 after buying an additional 136 shares during the period. GAMMA Investing LLC grew its holdings in shares of MSC Industrial Direct by 22.1% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the industrial products company's stock worth $65,000 after purchasing an additional 141 shares during the period. HighTower Advisors LLC grew its holdings in shares of MSC Industrial Direct by 0.3% during the 4th quarter. HighTower Advisors LLC now owns 50,418 shares of the industrial products company's stock worth $4,240,000 after purchasing an additional 147 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of MSC Industrial Direct by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 13,180 shares of the industrial products company's stock worth $1,214,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Stock Performance

Shares of MSM opened at $107.62 on Thursday. The business's 50 day moving average is $97.95 and its two-hundred day moving average is $91.57. MSC Industrial Direct Company, Inc. has a 52-week low of $78.80 and a 52-week high of $109.67. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 28.93 and a beta of 0.83. The company has a quick ratio of 0.78, a current ratio of 1.73 and a debt-to-equity ratio of 0.14.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.02). The business had revenue of $917.77 million during the quarter, compared to analyst estimates of $931.69 million. MSC Industrial Direct had a net margin of 5.42% and a return on equity of 16.06%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. Analysts forecast that MSC Industrial Direct Company, Inc. will post 4.33 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, April 8th. MSC Industrial Direct's dividend payout ratio is currently 93.55%.

Wall Street Analyst Weigh In

MSM has been the subject of a number of research reports. KeyCorp upgraded MSC Industrial Direct from a "sector weight" rating to an "overweight" rating and set a $117.00 target price for the company in a report on Monday, April 27th. iA Financial set a $95.00 price target on MSC Industrial Direct in a report on Friday, February 6th. Weiss Ratings restated a "hold (c)" rating on shares of MSC Industrial Direct in a report on Monday, April 27th. Wall Street Zen cut MSC Industrial Direct from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $95.00 price target on shares of MSC Industrial Direct in a report on Friday, February 6th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, MSC Industrial Direct currently has a consensus rating of "Hold" and an average target price of $94.29.

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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