New Age Alpha Advisors LLC Raises Stock Holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• New Age Alpha Advisors LLC increased its stake in MSC Industrial Direct by 31.0%, acquiring an additional 9,539 shares, bringing its total ownership to 40,320 shares valued at approximately $3.1 million.
• Several other institutional investors have also expanded their holdings; collectively, they now own 79.26% of the company's stock, highlighting strong institutional interest in MSC Industrial Direct.
• Analysts have raised their price targets for MSC Industrial Direct, with the average target now at $90.33 and an overall consensus rating of "Moderate Buy" from research firms.

New Age Alpha Advisors LLC raised its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 31.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,320 shares of the industrial products company's stock after purchasing an additional 9,539 shares during the quarter. New Age Alpha Advisors LLC owned 0.07% of MSC Industrial Direct worth $3,132,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of MSC Industrial Direct during the 4th quarter valued at about $25,000. Clearstead Trust LLC bought a new position in shares of MSC Industrial Direct during the 1st quarter valued at approximately $25,000. Investment Management Corp VA ADV grew its stake 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 valued at $31,000 after acquiring an additional 268 shares during the period. Neo Ivy Capital Management bought a new position in shares of MSC Industrial Direct during the 1st quarter valued at approximately $32,000. Finally, Farther Finance Advisors LLC grew its stake in shares of MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 537 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded MSC Industrial Direct from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $73.00 to $89.00 in a research note on Tuesday, May 27th. Robert W. Baird boosted their price objective on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price objective on MSC Industrial Direct in a research note on Tuesday, May 27th. Stephens boosted their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Finally, Loop Capital boosted their price objective on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research note on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $90.33.

Insider Activity

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

MSC Industrial Direct Price Performance

NYSE MSM traded up $0.02 during trading hours on Friday, reaching $86.02. The company's stock had a trading volume of 342,279 shares, compared to its average volume of 547,387. The firm's 50-day moving average price is $85.47 and its 200-day moving average price is $81.03. 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 $92.68. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 24.30 and a beta of 0.92.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping 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 company had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. During the same period in the previous year, the firm earned $1.33 EPS. The firm's revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio is 96.05%.

MSC Industrial Direct Profile

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.