VELA Investment Management LLC bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm bought 32,636 shares of the industrial products company’s stock, valued at approximately $3,882,000.
A number of other large investors have also recently bought and sold shares of MSM. Royal Bank of Canada lifted its position in shares of MSC Industrial Direct by 4.8% in the first quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock worth $3,650,000 after purchasing an additional 2,164 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in MSC Industrial Direct in the 1st quarter valued at $455,000. NewEdge Advisors LLC boosted its stake in shares of MSC Industrial Direct by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock worth $58,000 after buying an additional 333 shares during the last quarter. United Services Automobile Association bought a new position in shares of MSC Industrial Direct in the 1st quarter valued at about $229,000. Finally, Empowered Funds LLC acquired a new stake in shares of MSC Industrial Direct in the first quarter valued at about $816,000. Institutional investors and hedge funds own 79.26% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on MSM shares. Wall Street Zen upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. KeyCorp upped their price target on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Rothschild & Co Redburn started coverage on shares of MSC Industrial Direct in a research report on Monday, July 13th. They issued a “buy” rating and a $155.00 price objective for the company. Zacks Research cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Finally, Jefferies Financial Group set a $130.00 price target on MSC Industrial Direct in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Moderate Buy” and an average price target of $123.43.
MSC Industrial Direct Stock Down 0.0%
NYSE MSM opened at $121.38 on Monday. The company has a 50 day moving average of $122.13 and a 200-day moving average of $108.44. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 29.32 and a beta of 0.83. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. MSC Industrial Direct Company, Inc. has a 1-year low of $78.80 and a 1-year high of $130.46.
MSC Industrial Direct (NYSE:MSM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.MSC Industrial Direct’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $1.08 earnings per share. On average, equities research analysts expect that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current fiscal year.
MSC Industrial Direct Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $3.48 annualized dividend and a yield of 2.9%. MSC Industrial Direct’s dividend payout ratio (DPR) is 84.06%.
MSC Industrial Direct Profile
MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.
In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.
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