MSC Industrial Direct Company, Inc. (NYSE:MSM) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC increased its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,180 shares of the industrial products company's stock after buying an additional 8,480 shares during the quarter. Tectonic Advisors LLC owned 0.15% of MSC Industrial Direct worth $6,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its position in MSC Industrial Direct by 997.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock worth $70,000 after acquiring an additional 818 shares during the period. CWM LLC lifted its holdings in shares of MSC Industrial Direct by 38.9% in the 1st quarter. CWM LLC now owns 3,055 shares of the industrial products company's stock valued at $237,000 after buying an additional 856 shares during the period. Cerity Partners LLC lifted its holdings in shares of MSC Industrial Direct by 16.7% in the 1st quarter. Cerity Partners LLC now owns 6,013 shares of the industrial products company's stock valued at $467,000 after buying an additional 861 shares during the period. Alps Advisors Inc. lifted its holdings in shares of MSC Industrial Direct by 7.5% in the 1st quarter. Alps Advisors Inc. now owns 237,234 shares of the industrial products company's stock valued at $18,426,000 after buying an additional 16,461 shares during the period. Finally, Twelve Points Wealth Management LLC lifted its holdings in shares of MSC Industrial Direct by 5.2% in the 1st quarter. Twelve Points Wealth Management LLC now owns 14,426 shares of the industrial products company's stock valued at $1,120,000 after buying an additional 718 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Price Performance

NYSE:MSM traded down $2.09 during trading hours on Wednesday, hitting $86.40. 276,424 shares of the stock were exchanged, compared to its average volume of 622,441. MSC Industrial Direct Company, Inc. has a 52-week low of $68.10 and a 52-week high of $92.68. The firm's fifty day moving average price is $82.96 and its 200 day moving average price is $80.17. 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 company has a market cap of $4.81 billion, a P/E ratio of 24.41 and a beta of 0.87.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 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 company had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. During the same period in the previous year, the business earned $1.33 EPS. MSC Industrial Direct's quarterly revenue was down .8% on a year-over-year basis. As a group, equities research analysts anticipate 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 will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, July 9th. This represents a $3.40 annualized dividend and a yield of 3.94%. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MSM. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Loop Capital upped their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" 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. Stephens upped their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the stock 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 upped their price target for the stock from $73.00 to $89.00 in a report on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.33.

Insider Buying and Selling

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 value of $195,960.00. Following the completion of the sale, the senior vice president directly owned 14,657 shares in the company, valued at $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 18.30% of the company's stock.

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.