13,832 Shares in MSC Industrial Direct Company, Inc. $MSM Bought by Penn Capital Management Company LLC

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

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised 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 worth $53,000 after buying an additional 218 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of MSC Industrial Direct by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company's stock worth $463,000 after buying an additional 337 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of MSC Industrial Direct by 4.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock worth $705,000 after buying an additional 388 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of MSC Industrial Direct by 895.0% in the 1st 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, Wealth Enhancement Advisory Services LLC acquired a new position in shares of MSC Industrial Direct in the 1st quarter worth approximately $897,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSM has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on 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 MSC Industrial Direct in a report on Tuesday, May 27th. Loop Capital raised their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Stephens raised their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their price target for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.33.

Insider Activity

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

MSC Industrial Direct Trading Down 0.8%

Shares of NYSE:MSM traded down $0.73 during midday trading on Thursday, hitting $90.98. The company had a trading volume of 413,173 shares, compared to its average volume of 590,966. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $92.68. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 25.70 and a beta of 0.92. The firm has a fifty day simple moving average of $87.29 and a 200 day simple moving average of $81.66.

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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. During the same period last year, the company earned $1.33 EPS. The firm's revenue was down .8% on a year-over-year basis. On average, analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

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.