Vident Advisory LLC Takes Position in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Vident Advisory LLC has acquired a new stake in MSC Industrial Direct, purchasing 3,229 shares valued at approximately $251,000 during the 1st quarter.
• In the recent quarter, MSC Industrial reported an EPS of $1.08, exceeding expectations and generating revenue of $971.15 million, marking a 0.8% decline year-over-year.
• The company recently declared a quarterly dividend of $0.85 per share, resulting in an annualized payout of $3.40 and a dividend yield of 3.7%.

Vident Advisory LLC bought a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,229 shares of the industrial products company's stock, valued at approximately $251,000.

Several other large investors also recently modified their holdings of MSM. Schonfeld Strategic Advisors LLC bought a new position in shares of MSC Industrial Direct during the fourth quarter worth about $326,000. Ameriprise Financial Inc. lifted its position in shares of MSC Industrial Direct by 19.4% during the fourth quarter. Ameriprise Financial Inc. now owns 200,229 shares of the industrial products company's stock worth $14,954,000 after purchasing an additional 32,499 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of MSC Industrial Direct by 307.2% during the fourth quarter. BNP Paribas Financial Markets now owns 74,804 shares of the industrial products company's stock worth $5,587,000 after purchasing an additional 56,433 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of MSC Industrial Direct by 207.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 79,741 shares of the industrial products company's stock worth $5,956,000 after purchasing an additional 53,783 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of MSC Industrial Direct by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 438,393 shares of the industrial products company's stock worth $32,743,000 after purchasing an additional 6,336 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MSC Industrial Direct

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 shares were sold at an average price of $92.00, for a total value of $195,960.00. Following the sale, the senior vice president owned 14,657 shares in the company, valued at approximately $1,348,444. This trade represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.30% of the company's stock.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $91.91 on Wednesday. The firm's 50 day moving average is $88.60 and its two-hundred day moving average is $82.25. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $94.31. The firm has a market capitalization of $5.12 billion, a P/E ratio of 25.96 and a beta of 0.95. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The company had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. During the same quarter last year, the business earned $1.33 earnings per share. MSC Industrial Direct's revenue was down .8% compared to the same quarter last year. Analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Loop Capital increased their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a research report on Tuesday, May 27th. Zacks Research lowered shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Finally, Robert W. Baird increased their price objective on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.33.

MSC Industrial Direct Company 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.

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