Raymond James Financial Inc. Has $5.50 Million Holdings in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Raymond James Financial Inc. increased its stake in MSC Industrial Direct by 8.7%, acquiring a total of 70,865 shares valued at approximately $5.5 million.
• Other large investors, including GAMMA Investing and Janney Montgomery Scott, also increased their holdings, with institutional investors owning 79.26% of the stock.
• MSC Industrial Direct recently reported earnings of $1.08 per share, surpassing estimates, although revenue showed a 0.8% decline from the previous year.

Raymond James Financial Inc. lifted its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,865 shares of the industrial products company's stock after purchasing an additional 5,644 shares during the quarter. Raymond James Financial Inc. owned approximately 0.13% of MSC Industrial Direct worth $5,504,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new stake in MSC Industrial Direct in the 1st quarter worth approximately $25,000. Investment Management Corp VA ADV boosted its holdings in shares of MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock worth $31,000 after buying an additional 268 shares during the period. Neo Ivy Capital Management acquired a new position in MSC Industrial Direct in the 1st quarter valued at $32,000. Farther Finance Advisors LLC raised its holdings in MSC Industrial Direct by 895.0% in the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock worth $46,000 after acquiring an additional 537 shares during the period. Finally, GAMMA Investing LLC raised its holdings in MSC Industrial Direct by 47.1% in the 1st 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. 79.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total value of $195,960.00. Following the completion of the transaction, the senior vice president owned 14,657 shares of the company's stock, valued at $1,348,444. The trade was a 12.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.30% of the stock is owned by corporate insiders.

MSC Industrial Direct Price Performance

Shares of MSM stock traded down $0.27 during trading hours on Wednesday, hitting $91.61. The company had a trading volume of 411,438 shares, compared to its average volume of 425,094. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $94.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. The firm's fifty day moving average is $88.64 and its 200 day moving average is $82.32. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 25.88 and a beta of 0.95.

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

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MSM. Industrial Alliance Securities set a $89.00 price objective on MSC Industrial Direct in a research note on Tuesday, May 27th. Loop Capital lifted their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Robert W. Baird raised their price objective on shares of 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 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. Finally, Zacks Research downgraded shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, MSC Industrial Direct presently has a consensus 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.