WealthPlan Investment Management LLC Buys 4,536 Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• WealthPlan Investment Management LLC has increased its holdings in MSC Industrial Direct by 3.7%, owning approximately 0.23% of the company, valued at nearly $9.79 million.
• In the first quarter, several institutional investors like GAMMA Investing LLC and Farther Finance Advisors LLC made significant adjustments to their stakes in MSC Industrial Direct, indicating growing interest in the company.
• MSC Industrial's recent earnings showed a quarterly earnings per share of $1.08, exceeding analysts' expectations, but marked a decline from the previous year’s results.

WealthPlan Investment Management LLC lifted its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,983 shares of the industrial products company's stock after buying an additional 4,536 shares during the period. WealthPlan Investment Management LLC owned approximately 0.23% of MSC Industrial Direct worth $9,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP increased its position in shares of MSC Industrial Direct by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock valued at $148,443,000 after purchasing an additional 448,708 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in MSC Industrial Direct by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,781,503 shares of the industrial products company's stock worth $138,369,000 after acquiring an additional 88,247 shares during the period. Invesco Ltd. boosted its position in MSC Industrial Direct by 127.5% during the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock worth $90,137,000 after purchasing an additional 676,238 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in MSC Industrial Direct by 10.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,079,474 shares of the industrial products company's stock worth $80,621,000 after buying an additional 102,660 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in MSC Industrial Direct by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,077,450 shares of the industrial products company's stock worth $80,493,000 after acquiring an additional 20,974 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Trading Down 1.9%

MSM stock traded down $1.60 on Monday, hitting $84.50. 72,669 shares of the company were exchanged, compared to its average volume of 608,059. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 23.87 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 business's fifty day moving average is $85.47 and its two-hundred day moving average is $81.02.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its 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 business 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 period last year, the company posted $1.33 EPS. As a group, research analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were paid 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 yield of 4.0%. MSC Industrial Direct's dividend payout ratio (DPR) is presently 96.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MSM shares. Loop Capital boosted their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. Robert W. Baird lifted their price objective on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, Stephens increased their price target on shares of 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. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $90.33.

Insider Buying and Selling

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the business's stock in a transaction dated 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 owned 14,657 shares of the company's stock, valued at $1,348,444. The trade was a 12.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.