Advisors Asset Management Inc. Acquires 31,671 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Advisors Asset Management Inc. significantly increased its stake in MSC Industrial Direct, raising its position by 66.2% in the first quarter, and now holds 79,499 shares valued at approximately $6.18 million.
• Wall Street analysts remain optimistic, with a consensus rating of "Moderate Buy" and an average price target of $90.33, indicating potential for growth.
• MSC Industrial Direct announced a quarterly dividend of $0.85 per share, reflecting a 3.7% dividend yield based on a payout ratio of 96.05%.

Advisors Asset Management Inc. lifted its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 66.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,499 shares of the industrial products company's stock after purchasing an additional 31,671 shares during the period. Advisors Asset Management Inc. owned about 0.14% of MSC Industrial Direct worth $6,175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSM. Beverly Hills Private Wealth LLC increased its holdings in shares of MSC Industrial Direct by 4.5% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,755 shares of the industrial products company's stock valued at $292,000 after purchasing an additional 163 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of MSC Industrial Direct by 6.1% in the 1st quarter. Parallel Advisors LLC now owns 3,792 shares of the industrial products company's stock valued at $295,000 after purchasing an additional 217 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of MSC Industrial Direct by 47.1% in the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 218 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of MSC Industrial Direct by 51.1% in the 1st quarter. UMB Bank n.a. now owns 719 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 243 shares in the last quarter. Finally, Investment Management Corp VA ADV increased its holdings in shares of MSC Industrial Direct by 207.8% in the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 268 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction 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 approximately $1,348,444. The trade was a 12.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.30% of the stock is currently owned by insiders.

MSC Industrial Direct Trading Down 1.1%

Shares of MSM traded down $0.99 during mid-day trading on Tuesday, hitting $91.91. The company had a trading volume of 520,319 shares, compared to its average volume of 590,120. The business's 50-day simple moving average is $88.56 and its 200-day simple moving average is $82.18. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Company, Inc. has a 1-year low of $68.10 and a 1-year high of $94.31. The stock has a market cap of $5.12 billion, a PE ratio of 25.96 and a beta of 0.95.

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 for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. MSC Industrial Direct's revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 earnings per share. Sell-side analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MSM shares. Stephens increased their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Loop Capital increased their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their target price for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Robert W. Baird raised their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.