Van Lanschot Kempen Investment Management N.V. Acquires 43,034 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

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Van Lanschot Kempen Investment Management N.V. raised its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 15.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 315,698 shares of the industrial products company's stock after acquiring an additional 43,034 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned approximately 0.57% of MSC Industrial Direct worth $24,520,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC acquired a new position in MSC Industrial Direct in the first quarter worth $25,000. Investment Management Corp VA ADV grew its holdings in MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock worth $31,000 after acquiring an additional 268 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in MSC Industrial Direct in the 1st quarter valued at about $32,000. Farther Finance Advisors LLC increased its position in 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 valued at $46,000 after acquiring an additional 537 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of MSC Industrial Direct by 47.1% in the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

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

MSC Industrial Direct Stock Up 4.4%

Shares of NYSE:MSM traded up $3.8150 during mid-day trading on Friday, reaching $90.7250. 333,090 shares of the stock were exchanged, compared to its average volume of 595,150. The stock's 50 day simple moving average is $86.53 and its 200-day simple moving average is $81.37. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $92.68. The company has a market cap of $5.05 billion, a P/E ratio of 25.63 and a beta of 0.92. 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 (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $971.15 million during 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 business's revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. As a group, equities research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The business also recently announced 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. This represents a $3.40 annualized dividend and a yield of 3.7%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio is presently 96.05%.

Insider Buying and Selling

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 stock was sold at an average price of $92.00, for a total value of $195,960.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 18.30% of the company's stock.

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.