Penn Capital Management Company LLC Purchases Shares of 13,832 MSC Industrial Direct Company, Inc. $MSM

Key Points

• Penn Capital Management Company LLC acquired a new stake in MSC Industrial Direct, purchasing 13,832 shares valued at approximately $1,096,000 in the first quarter.
• Insider transactions revealed that SVP Kimberly Shacklett sold 2,130 shares at an average price of $92.00, reducing her position by 12.69%.
• MSC Industrial Direct reported earnings per share (EPS) of $1.08, exceeding estimates, while also announcing a quarterly dividend of $0.85 with a yield of 3.7%.

Penn Capital Management Company LLC purchased a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,832 shares of the industrial products company's stock, valued at approximately $1,096,000.

Other hedge funds also recently modified their holdings of the company. Clearstead Trust LLC purchased a new position in shares of MSC Industrial Direct during the 1st quarter worth about $25,000. Investment Management Corp VA ADV raised 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 valued at $31,000 after purchasing an additional 268 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of MSC Industrial Direct during the first quarter valued at approximately $32,000. Farther Finance Advisors LLC grew its position in shares of MSC Industrial Direct by 895.0% during the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock worth $46,000 after buying an additional 537 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of MSC Industrial Direct by 47.1% during the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after buying an additional 218 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on MSM. Loop Capital lifted their price objective on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $73.00 to $89.00 in a report on Tuesday, May 27th. Robert W. Baird boosted their price target 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. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a report on Tuesday, May 27th. Finally, Stephens boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, MSC Industrial Direct has a consensus rating of "Moderate Buy" and a consensus price target of $90.33.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 14,657 shares in the company, valued at approximately $1,348,444. This trade represents a 12.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 18.30% of the stock is currently owned by corporate insiders.

MSC Industrial Direct Stock Down 1.2%

Shares of MSM traded down $1.08 during trading hours on Friday, reaching $89.90. The company's stock had a trading volume of 146,686 shares, compared to its average volume of 588,183. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 25.39 and a beta of 0.92. 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 quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $87.47 and a two-hundred day moving average of $81.74.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its 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 company had revenue of $971.15 million for the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%.The firm's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.8%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's 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.