Quarry LP Purchases New Shares in MSC Industrial Direct Company, Inc. $MSM

Quarry LP purchased a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,305 shares of the industrial products company’s stock, valued at approximately $101,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in MSC Industrial Direct in the first quarter valued at about $25,000. Investment Management Corp VA ADV increased its holdings in MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 268 shares during the period. Neo Ivy Capital Management purchased a new position in MSC Industrial Direct in the 1st quarter worth approximately $32,000. Farther Finance Advisors LLC grew its stake in MSC Industrial Direct by 895.0% in the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock worth $46,000 after buying an additional 537 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in MSC Industrial Direct by 47.1% in the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock worth $53,000 after buying an additional 218 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on MSM shares. Robert W. Baird increased their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 target price on shares of MSC Industrial Direct in a research report on Tuesday, May 27th. Loop Capital raised their target price on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, July 2nd. Stephens increased their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.33.

MSC Industrial Direct Stock Performance

MSM opened at $90.05 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. The company has a 50 day simple moving average of $88.11 and a two-hundred day simple moving average of $81.97. MSC Industrial Direct Company, Inc. has a 1-year low of $68.10 and a 1-year high of $92.68. The firm has a market cap of $5.01 billion, a P/E ratio of 25.44 and a beta of 0.95.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The firm had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. During the same quarter in the prior year, the business earned $1.33 earnings per share. MSC Industrial Direct’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.8%. MSC Industrial Direct’s dividend payout ratio is currently 96.05%.

Insider Transactions at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the company’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $195,960.00. Following the sale, the senior vice president owned 14,657 shares of the company’s stock, valued at $1,348,444. This 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 available through this link. 18.30% of the stock is currently owned by insiders.

MSC Industrial Direct Profile

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.