MSC Industrial Direct Company, Inc. (NYSE:MSM) Shares Bought by New Age Alpha Advisors LLC

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 increased its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 31.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,320 shares of the industrial products company's stock after buying an additional 9,539 shares during the period. New Age Alpha Advisors LLC owned about 0.07% of MSC Industrial Direct worth $3,132,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MSM. Headlands Technologies LLC acquired a new position in MSC Industrial Direct during the 4th quarter worth approximately $25,000. Clearstead Trust LLC purchased a new stake in shares of MSC Industrial Direct during the 1st quarter worth $25,000. Investment Management Corp VA ADV grew its stake in shares of MSC Industrial Direct by 207.8% during the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock worth $31,000 after purchasing an additional 268 shares in the last quarter. Neo Ivy Capital Management purchased a new position in MSC Industrial Direct in the first quarter valued at $32,000. Finally, Farther Finance Advisors LLC raised its stake in MSC Industrial Direct by 895.0% in the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after buying an additional 537 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other MSC Industrial Direct 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.30% of the stock is currently owned by corporate insiders.

MSC Industrial Direct Stock Performance

MSM traded up $0.35 during trading on Thursday, hitting $85.97. 348,029 shares of the stock were exchanged, compared to its average volume of 580,855. 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 stock has a fifty day moving average price of $85.38 and a two-hundred day moving average price of $81.02. The firm has a market capitalization of $4.79 billion, a P/E ratio of 24.29 and a beta of 0.92.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The business 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%. The company's quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. As a group, sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.0%. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MSM shares. Stephens upped their price objective on 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. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a report on Tuesday, May 27th. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $73.00 to $89.00 in a report on Tuesday, May 27th. Loop Capital boosted their price objective on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird increased their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.33.

MSC Industrial Direct Company 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.