Versor Investments LP acquired a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,200 shares of the industrial products company's stock, valued at approximately $249,000.
Several other institutional investors have also modified their holdings of MSM. Clearstead Trust LLC bought a new position in shares of MSC Industrial Direct during the 1st quarter valued at about $25,000. Investment Management Corp VA ADV lifted its holdings in shares of 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 valued at $31,000 after purchasing an additional 268 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of MSC Industrial Direct during the 1st quarter valued at about $32,000. Farther Finance Advisors LLC raised 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 buying an additional 537 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in MSC Industrial Direct by 47.1% in the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after buying an additional 218 shares during the last quarter. Institutional investors own 79.26% of the company's stock.
MSC Industrial Direct Stock Down 0.9%
NYSE:MSM opened at $86.89 on Friday. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 24.55 and a beta of 0.92. MSC Industrial Direct Company, Inc. has a twelve month low of $68.10 and a twelve month high of $92.68. The stock's 50 day moving average price is $86.53 and its two-hundred day moving average price is $81.37. 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 posted its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. The firm had revenue of $971.15 million for the quarter, compared to analyst estimates 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 quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 EPS. Equities research analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.
MSC Industrial Direct Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 annualized dividend and a dividend yield of 3.9%. MSC Industrial Direct's payout ratio is 96.05%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on MSM shares. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research report on Tuesday, May 27th. Loop Capital lifted their target price 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. Stephens lifted their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Robert W. Baird lifted their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, MSC Industrial Direct has an average rating of "Moderate Buy" and a consensus target price of $90.33.
Get Our Latest Stock Report on MSM
Insider Buying and Selling at MSC Industrial Direct
In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the business'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 transaction of $195,960.00. Following the transaction, the senior vice president owned 14,657 shares of the company's stock, valued at $1,348,444. The trade was a 12.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.30% of the stock is owned by company insiders.
About MSC Industrial Direct
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Free Report)
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.
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