Sei Investments Co. Acquires 42,562 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Sei Investments increased its MSC Industrial Direct stake by 57.7% in the first quarter, purchasing 42,562 additional shares for a total holding of 116,351 shares valued at approximately $10.7 million. Institutional investors collectively own 79.26% of the company.
• MSC Industrial Direct exceeded quarterly expectations, reporting $1.43 in earnings per share versus the $1.28 consensus estimate and $1.05 billion in revenue, up 7.8% year over year.
• The company declared a quarterly dividend of $0.87 per share, equivalent to a 2.8% annualized yield. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $123.43.

Sei Investments Co. increased its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 57.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,351 shares of the industrial products company's stock after buying an additional 42,562 shares during the quarter. Sei Investments Co. owned 0.21% of MSC Industrial Direct worth $10,735,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Auto Owners Insurance Co raised its position in MSC Industrial Direct by 12,181.8% in the fourth 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 during the period. Norges Bank bought a new stake in shares of MSC Industrial Direct during the 4th quarter valued at $59,380,000. Alberta Investment Management Corp increased its stake in shares of MSC Industrial Direct by 213.7% in the 4th quarter. Alberta Investment Management Corp now owns 619,600 shares of the industrial products company's stock worth $52,108,000 after purchasing an additional 422,100 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. Finally, Corient Private Wealth LLC lifted its position in MSC Industrial Direct by 3,393.6% during the fourth quarter. Corient Private Wealth LLC now owns 275,432 shares of the industrial products company's stock valued at $23,164,000 after purchasing an additional 267,548 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Trading Up 1.7%

Shares of MSC Industrial Direct stock opened at $123.55 on Friday. The company has a market capitalization of $6.90 billion, a P/E ratio of 29.84 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 company has a fifty day moving average of $118.95 and a 200 day moving average of $102.59. MSC Industrial Direct Company, Inc. has a fifty-two week low of $78.80 and a fifty-two week high of $128.79.

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

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were given a dividend of $0.87 per share. 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 dividend payout ratio (DPR) is currently 84.06%.

Analyst Ratings Changes

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

About MSC Industrial Direct

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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