Mirae Asset Global Investments Co. Ltd. acquired a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 43,643 shares of the industrial products company’s stock, valued at approximately $5,400,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC raised its holdings in MSC Industrial Direct by 89.9% in the 2nd quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Parallel Advisors LLC grew its holdings in MSC Industrial Direct by 3.9% during the 1st quarter. Parallel Advisors LLC now owns 3,112 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 118 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in MSC Industrial Direct by 60.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 319 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 120 shares during the last quarter. GAMMA Investing LLC grew its holdings in MSC Industrial Direct by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,534 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 144 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in MSC Industrial Direct by 9.5% during the 2nd quarter. Versant Capital Management Inc now owns 2,247 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 195 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.
Analyst Ratings Changes
Several brokerages have issued reports on MSM. Stephens upgraded shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $135.00 in a research report on Friday, October 23rd. DA Davidson set a $155.00 price target on shares of MSC Industrial Direct in a report on Tuesday, October 13th. Wolfe Research started coverage on shares of MSC Industrial Direct in a report on Tuesday, September 15th. They set a “peer perform” rating on the stock. Rothschild & Co Redburn began coverage on shares of MSC Industrial Direct in a research note on Monday, July 13th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, Weiss Ratings downgraded MSC Industrial Direct from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.22.
Check Out Our Latest Stock Analysis on MSM
MSC Industrial Direct Price Performance
Shares of MSM opened at $110.67 on Friday. MSC Industrial Direct Company, Inc. has a 1 year low of $78.80 and a 1 year high of $133.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.78 and a quick ratio of 0.85. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 27.81 and a beta of 0.83. The business has a 50-day moving average of $122.92 and a 200-day moving average of $109.86.
MSC Industrial Direct (NYSE:MSM – Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. MSC Industrial Direct had a return on equity of 18.72% and a net margin of 5.55%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that MSC Industrial Direct Company, Inc. will post 5.51 earnings per share for the current year.
MSC Industrial Direct Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, November 10th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.87. MSC Industrial Direct’s dividend payout ratio (DPR) is 87.44%.
Insider Activity at MSC Industrial Direct
In other news, Director Mitchell Jacobson acquired 250,000 shares of MSC Industrial Direct stock in a transaction dated Friday, October 23rd. The shares were bought at an average cost of $115.94 per share, with a total value of $28,985,000.00. Following the purchase, the director owned 2,578,192 shares in the company, valued at $298,915,580.48. This trade represents a 10.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Reuben E. Slone acquired 433 shares of MSC Industrial Direct stock in a transaction dated Friday, October 23rd. The stock was purchased at an average cost of $115.77 per share, for a total transaction of $50,128.41. Following the completion of the purchase, the director owned 433 shares in the company, valued at approximately $50,128.41. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 19.00% of the stock is currently owned by company insiders.
MSC Industrial Direct Profile
MSC Industrial Direct Co, Inc is a distributor of metalworking and maintenance, repair and operations (MRO) supplies. The company serves industrial and institutional customers with products used in machining, manufacturing, facility maintenance and workplace safety.
Its offerings include cutting tools, abrasives, tooling and workholding equipment, machinery, safety products, material-handling supplies, janitorial and facility-maintenance products, and other industrial consumables. MSC also provides technical support, inventory-management programs, vending and other supply-chain services designed to help customers manage procurement and production-related needs.
Founded in 1941, MSC serves customers primarily across the United States and Canada through sales representatives, customer service teams, catalogs, distribution operations and digital commerce platforms.
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