FNY Investment Advisers LLC Acquires 1,022 Shares of MSC Industrial Direct Company, Inc. $MSM

FNY Investment Advisers LLC boosted its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 1,261.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,103 shares of the industrial products company’s stock after acquiring an additional 1,022 shares during the quarter. FNY Investment Advisers LLC’s holdings in MSC Industrial Direct were worth $93,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC bought a new stake in MSC Industrial Direct during the 2nd quarter worth approximately $263,000. Praxis Investment Management Inc. bought a new stake in MSC Industrial Direct during the 2nd quarter worth approximately $451,000. WealthPlan Investment Management LLC grew its holdings in MSC Industrial Direct by 12.7% during the 2nd quarter. WealthPlan Investment Management LLC now owns 142,009 shares of the industrial products company’s stock worth $12,074,000 after acquiring an additional 16,026 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in MSC Industrial Direct by 267.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 87,060 shares of the industrial products company’s stock worth $7,402,000 after acquiring an additional 63,347 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in MSC Industrial Direct during the 2nd quarter worth approximately $482,000. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Stock Up 3.2%

Shares of NYSE MSM opened at $89.87 on Friday. The firm has a market cap of $5.00 billion, a PE ratio of 25.39 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $94.31. The company’s fifty day simple moving average is $89.86 and its 200 day simple moving average is $84.81. 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) last issued its earnings results on Thursday, October 23rd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.06. The business had revenue of $978.18 million for the quarter, compared to analyst estimates of $964.03 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. MSC Industrial Direct’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, sell-side analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.87 per share. The ex-dividend date is Wednesday, November 12th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.85. This represents a $3.48 annualized dividend and a yield of 3.9%. MSC Industrial Direct’s dividend payout ratio is currently 96.05%.

Analyst Ratings Changes

MSM has been the topic of a number of analyst reports. Robert W. Baird upped their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of MSC Industrial Direct from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. 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. Loop Capital upped their price objective 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. Finally, Stephens upped their price objective 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. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.00.

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.