Kestra Investment Management LLC Has $900,000 Stock Position in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Kestra Investment Management LLC increased its stake in MSC Industrial Direct by 98.7% in Q1, acquiring a total of 11,589 shares valued at approximately $900,000.
• Several analysts have raised their price targets for MSC Industrial Direct, with a consensus average target price of $90.33, indicating confidence in the company's performance.
• MSC Industrial Direct recently announced a quarterly dividend of $0.85 per share, reflecting a 3.7% annual yield, despite a reported revenue decline of 0.8% year-over-year.

Kestra Investment Management LLC lifted its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 98.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,589 shares of the industrial products company's stock after buying an additional 5,757 shares during the quarter. Kestra Investment Management LLC's holdings in MSC Industrial Direct were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Beverly Hills Private Wealth LLC lifted its stake in shares of MSC Industrial Direct by 4.5% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,755 shares of the industrial products company's stock worth $292,000 after buying an additional 163 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of MSC Industrial Direct by 6.1% in the first quarter. Parallel Advisors LLC now owns 3,792 shares of the industrial products company's stock worth $295,000 after buying an additional 217 shares during the last quarter. GAMMA Investing LLC increased its position in MSC Industrial Direct by 47.1% during the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after acquiring an additional 218 shares during the period. UMB Bank n.a. increased its position in MSC Industrial Direct by 51.1% during the first quarter. UMB Bank n.a. now owns 719 shares of the industrial products company's stock worth $56,000 after acquiring an additional 243 shares during the period. Finally, Investment Management Corp VA ADV increased its position in MSC Industrial Direct by 207.8% during the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock worth $31,000 after acquiring an additional 268 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Performance

MSC Industrial Direct stock traded down $0.99 on Friday, hitting $91.31. The company's stock had a trading volume of 343,057 shares, compared to its average volume of 439,432. The firm has a market cap of $5.08 billion, a P/E ratio of 25.79 and a beta of 0.95. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $88.71 and a 200-day moving average price of $82.53. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $94.31.

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

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 annualized dividend and a dividend yield of 3.7%. MSC Industrial Direct's dividend payout ratio is presently 96.05%.

Insider Buying and Selling at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $92.00, for a total value of $195,960.00. Following the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.30% of the company's stock.

Analysts Set New Price Targets

MSM has been the topic of a number of research reports. Loop Capital boosted their target price on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 target price on shares of MSC Industrial Direct in a research report on Tuesday, May 27th. Stephens boosted their target price on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. 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. Finally, Robert W. Baird boosted their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. One equities research 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. According to data from MarketBeat.com, MSC Industrial Direct presently has an average rating of "Moderate Buy" and a consensus target price of $90.33.

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.