Martin Capital Partners LLC Buys 5,535 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Martin Capital Partners LLC increased its holdings in MSC Industrial Direct by 168.2% during Q2, now owning 8,825 shares valued at approximately $750,000.
• The company's most recent quarterly earnings surpassed estimates, with $1.08 EPS reported compared to a forecast of $1.03, despite a 0.8% year-over-year revenue decline.
• MSC Industrial Direct recently declared a quarterly dividend of $0.85, resulting in an annualized yield of 3.7% and a high dividend payout ratio of 96.05%.

Martin Capital Partners LLC raised its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 168.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,825 shares of the industrial products company's stock after purchasing an additional 5,535 shares during the period. Martin Capital Partners LLC's holdings in MSC Industrial Direct were worth $750,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in MSC Industrial Direct by 445.4% in the 1st quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company's stock worth $60,567,000 after purchasing an additional 636,827 shares during the period. Mackenzie Financial Corp increased its holdings in MSC Industrial Direct by 6,108.1% during the first quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company's stock worth $39,298,000 after buying an additional 497,810 shares during the last quarter. Boston Partners raised its holdings in shares of MSC Industrial Direct by 22.9% in the 1st quarter. Boston Partners now owns 1,762,248 shares of the industrial products company's stock valued at $136,867,000 after purchasing an additional 327,833 shares during the period. American Century Companies Inc. increased its position in MSC Industrial Direct by 6.8% during the first quarter. American Century Companies Inc. now owns 3,650,221 shares of the industrial products company's stock worth $283,513,000 after buying an additional 231,961 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in MSC Industrial Direct in the 1st quarter valued at $17,187,000. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

MSM stock traded down $0.01 during mid-day trading on Tuesday, hitting $91.86. The stock had a trading volume of 349,194 shares, compared to its average volume of 443,156. The firm has a fifty day simple moving average of $88.79 and a 200 day simple moving average of $82.69. The firm has a market capitalization of $5.11 billion, a P/E ratio of 25.95 and a beta of 0.95. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $94.31.

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

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued 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 dividend yield of 3.7%. MSC Industrial Direct's payout ratio is 96.05%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at MSC Industrial Direct

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 value of $195,960.00. Following the sale, the senior vice president directly owned 14,657 shares of the company's stock, valued at $1,348,444. This trade represents a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 18.30% of the stock is currently owned by corporate 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.