State of Wyoming decreased its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM – Free Report) by 57.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,500 shares of the industrial products company’s stock after selling 4,796 shares during the period. State of Wyoming’s holdings in MSC Industrial Direct were worth $433,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of MSC Industrial Direct by 33.3% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 15,600 shares of the industrial products company’s stock valued at $1,930,000 after acquiring an additional 3,900 shares in the last quarter. Parcion Private Wealth LLC acquired a new position in MSC Industrial Direct in the 3rd quarter valued at about $224,000. Interchange Capital Partners LLC purchased a new position in MSC Industrial Direct in the 3rd quarter valued at about $225,000. Leo Wealth LLC purchased a new position in MSC Industrial Direct in the 3rd quarter valued at about $207,000. Finally, Apollon Wealth Management LLC purchased a new position in MSC Industrial Direct in the 3rd quarter valued at about $247,000. 79.26% of the stock is owned by institutional investors and hedge funds.
MSC Industrial Direct Stock Performance
NYSE MSM opened at $120.22 on Wednesday. The business’s 50-day moving average price is $123.20 and its 200 day moving average price is $109.58. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $133.95. The company has a market capitalization of $6.72 billion, a PE ratio of 30.21 and a beta of 0.83.
MSC Industrial Direct (NYSE:MSM – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $1.45 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. On average, research analysts predict that MSC Industrial Direct Company, Inc. will post 5.51 earnings per share for the current year.
MSC Industrial Direct Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be given a $0.89 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 10th. MSC Industrial Direct’s dividend payout ratio is 87.44%.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. KeyCorp lowered their price target on shares of MSC Industrial Direct from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Weiss Ratings downgraded shares of MSC Industrial Direct from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 28th. Wolfe Research started coverage on shares of MSC Industrial Direct in a research report on Tuesday, September 15th. They set a “peer perform” rating on the stock. Barclays lifted their target price on shares of MSC Industrial Direct from $152.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Finally, Robert W. Baird set a $130.00 price target on MSC Industrial Direct in a report on Friday, October 23rd. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.22.
Check Out Our Latest Analysis on MSC Industrial Direct
Insider Activity at MSC Industrial Direct
In related news, Director Mitchell Jacobson purchased 250,000 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were bought at an average price of $115.94 per share, with a total value of $28,985,000.00. Following the completion of the purchase, the director directly owned 2,578,192 shares in the company, valued at approximately $298,915,580.48. This trade represents a 10.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Reuben E. Slone bought 433 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 433 shares in the company, valued at approximately $50,128.41. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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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