WealthPlan Investment Management LLC increased its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,983 shares of the industrial products company's stock after purchasing 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 quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in MSC Industrial Direct by 47.1% in the first 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 in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of MSC Industrial Direct by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company's stock worth $463,000 after purchasing an additional 337 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in MSC Industrial Direct by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock valued at $705,000 after buying an additional 388 shares during the period. Farther Finance Advisors LLC lifted its holdings in MSC Industrial Direct by 895.0% in the first 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 period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in MSC Industrial Direct in the first quarter valued at approximately $897,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, SVP Kimberly Shacklett sold 2,130 shares of the firm's stock in a transaction 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 completion of the transaction, the senior vice president owned 14,657 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Company insiders own 18.30% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Robert W. Baird upped 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. Loop Capital upped their target price on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research note on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 target price on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. Stephens upped their target price on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" 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 upped their target price for the company from $73.00 to $89.00 in a research note on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $90.33.
View Our Latest Stock Report on MSC Industrial Direct
MSC Industrial Direct Trading Down 0.6%
MSM opened at $85.58 on Thursday. The stock has a market capitalization of $4.77 billion, a P/E ratio of 24.18 and a beta of 0.92. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $92.68. The firm's fifty day simple moving average is $85.30 and its 200 day simple moving average is $80.99. 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 released its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The business had revenue of $971.15 million during the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The firm's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 earnings per share. As a group, research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.
MSC Industrial Direct Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 4.0%. MSC Industrial Direct's dividend payout ratio (DPR) is 96.05%.
About MSC Industrial Direct
(
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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