Red Spruce Capital LLC Buys 146 Shares of MSC Industrial Direct Company, Inc. $MSM

Red Spruce Capital LLC grew its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,545 shares of the industrial products company’s stock after acquiring an additional 146 shares during the quarter. Red Spruce Capital LLC’s holdings in MSC Industrial Direct were worth $1,917,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MSM. Victory Capital Management Inc. boosted its holdings in MSC Industrial Direct by 445.4% in the first quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company’s stock worth $60,567,000 after acquiring an additional 636,827 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of MSC Industrial Direct by 6,108.1% during the first quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company’s stock valued at $39,298,000 after purchasing an additional 497,810 shares in the last quarter. Boston Partners lifted its holdings in shares of MSC Industrial Direct by 22.9% during the first quarter. Boston Partners now owns 1,762,248 shares of the industrial products company’s stock valued at $136,867,000 after purchasing an additional 327,833 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of MSC Industrial Direct by 6.8% during the first quarter. American Century Companies Inc. now owns 3,650,221 shares of the industrial products company’s stock valued at $283,513,000 after purchasing an additional 231,961 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of MSC Industrial Direct during the first quarter valued at $17,187,000. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Stock Down 1.1%

MSM stock opened at $91.31 on Monday. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $94.31. The business’s 50-day moving average is $88.71 and its two-hundred day moving average is $82.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 25.79 and a beta of 0.95.

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

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were given a $0.85 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 3.7%. MSC Industrial Direct’s dividend payout ratio is presently 96.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MSM shares. Robert W. Baird upped their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Stephens upped their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a report on Tuesday, May 27th. Zacks Research downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. raised MSC Industrial Direct from a “neutral” rating to an “overweight” rating and upped their price target for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, MSC Industrial Direct presently has a consensus rating of “Moderate Buy” and an average target price of $90.33.

Insider Buying and Selling

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $92.00, for a total value of $195,960.00. Following the completion of the sale, the senior vice president owned 14,657 shares in the company, valued at $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 18.30% of the stock is currently owned by insiders.

MSC Industrial Direct Company 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.