MSC Industrial Direct Company, Inc. $MSM Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its MSC Industrial Direct stake by 15.1% in the first quarter, selling 54,499 shares and retaining 306,695 shares worth approximately $28.3 million. Institutional investors collectively own 79.26% of the company.
• MSC Industrial Direct reported quarterly EPS of $1.43, exceeding estimates of $1.28, while revenue rose 7.8% year over year to $1.05 billion. Analysts expect full-year EPS of $4.49.
• The company declared a quarterly dividend of $0.87, equivalent to an annualized $3.48 payout and a 2.8% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $123.43.

Bank of America Corp DE cut its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 306,695 shares of the industrial products company's stock after selling 54,499 shares during the period. Bank of America Corp DE owned 0.55% of MSC Industrial Direct worth $28,299,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MSM. Auto Owners Insurance Co boosted its stake in shares of MSC Industrial Direct by 12,181.8% during the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company's stock worth $273,718,000 after acquiring an additional 3,228,170 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of MSC Industrial Direct by 11.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,796,316 shares of the industrial products company's stock valued at $151,070,000 after purchasing an additional 187,440 shares in the last quarter. First Trust Advisors LP raised its holdings in MSC Industrial Direct by 20.9% in the 1st quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company's stock worth $163,607,000 after purchasing an additional 306,436 shares during the period. Boston Partners boosted its position in MSC Industrial Direct by 2.1% during the third quarter. Boston Partners now owns 1,764,875 shares of the industrial products company's stock worth $162,605,000 after purchasing an additional 36,626 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in MSC Industrial Direct by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,357,419 shares of the industrial products company's stock worth $125,240,000 after purchasing an additional 14,484 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

NYSE:MSM opened at $123.76 on Monday. MSC Industrial Direct Company, Inc. has a one year low of $78.80 and a one year high of $130.46. The stock has a market cap of $6.91 billion, a PE ratio of 29.89 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The stock has a 50 day moving average price of $121.19 and a 200 day moving average price of $105.37.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. MSC Industrial Direct's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. Equities research analysts expect that MSC Industrial Direct Company, Inc. will post 4.49 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were paid a $0.87 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. MSC Industrial Direct's payout ratio is 84.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MSM shares. Jefferies Financial Group set a $130.00 price objective on MSC Industrial Direct in a research report on Wednesday, July 1st. Weiss Ratings upgraded MSC Industrial Direct from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 7th. Wall Street Zen raised shares of MSC Industrial Direct from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Rothschild & Co Redburn initiated coverage on shares of MSC Industrial Direct in a report on Monday, July 13th. They issued a "buy" rating and a $155.00 price target for the company. Finally, KeyCorp upped their price objective on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.43.

MSC Industrial Direct 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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