MSC Industrial Direct Company, Inc. $MSM Shares Bought by Citigroup Inc.

Key Points

• Citigroup increased its stake in MSC Industrial Direct by 455.8% in Q3, adding 39,278 shares to hold 47,895 shares worth about $4.41 million (roughly 0.09% ownership).
• Analysts have a consensus "Hold" rating on MSM with an average price target of $90.50, and several firms (including iA and JPMorgan) recently set targets around $95.
• MSC posted a quarterly earnings beat ($0.99 vs. $0.95 est.) and pays a $0.87 quarterly dividend ($3.48 annualized) for a ~3.8% yield, though its payout ratio is high at about 95%.

Citigroup Inc. increased its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 455.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,895 shares of the industrial products company's stock after acquiring an additional 39,278 shares during the period. Citigroup Inc. owned approximately 0.09% of MSC Industrial Direct worth $4,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in MSC Industrial Direct during the 3rd quarter valued at $31,000. Hantz Financial Services Inc. lifted its holdings in shares of MSC Industrial Direct by 257.4% in the third quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company's stock valued at $33,000 after buying an additional 260 shares during the period. EverSource Wealth Advisors LLC boosted its stake in MSC Industrial Direct by 130.4% during the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company's stock valued at $49,000 after buying an additional 326 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in MSC Industrial Direct by 52.2% during the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company's stock worth $51,000 after acquiring an additional 204 shares during the period. Finally, NewEdge Advisors LLC raised its position in MSC Industrial Direct by 79.9% in the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company's stock worth $58,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MSM shares. Wall Street Zen lowered shares of MSC Industrial Direct from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. KeyCorp restated a "sector weight" rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MSC Industrial Direct in a report on Wednesday, January 28th. iA Financial set a $95.00 price objective on MSC Industrial Direct in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $95.00 target price on shares of MSC Industrial Direct in a report on Friday, February 6th. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat, MSC Industrial Direct has a consensus rating of "Hold" and an average price target of $90.50.

MSC Industrial Direct Trading Down 1.4%

MSC Industrial Direct stock opened at $91.59 on Thursday. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $96.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.73. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 25.02 and a beta of 0.81. The company has a 50 day moving average price of $88.87 and a 200 day moving average price of $88.38.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The company had revenue of $965.68 million during the quarter, compared to analyst estimates of $962.52 million. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Research analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, January 14th. MSC Industrial Direct's payout ratio is 95.08%.

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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