Frank Rimerman Advisors LLC Takes Position in MSC Industrial Direct Company, Inc. $MSM

Frank Rimerman Advisors LLC purchased a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 14,287 shares of the industrial products company’s stock, valued at approximately $1,215,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in shares of MSC Industrial Direct by 11.1% in the second quarter. Signaturefd LLC now owns 1,277 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 128 shares during the last quarter. Red Spruce Capital LLC lifted its stake in MSC Industrial Direct by 0.7% in the 2nd quarter. Red Spruce Capital LLC now owns 22,545 shares of the industrial products company’s stock valued at $1,917,000 after buying an additional 146 shares in the last quarter. Matrix Trust Co grew its holdings in MSC Industrial Direct by 7.3% during the 2nd quarter. Matrix Trust Co now owns 2,252 shares of the industrial products company’s stock valued at $191,000 after buying an additional 153 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in MSC Industrial Direct by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 56,514 shares of the industrial products company’s stock valued at $4,805,000 after buying an additional 162 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in MSC Industrial Direct by 52.2% during the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock worth $51,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity

In other MSC Industrial Direct news, Director Philip Peller bought 6,666 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $90.14 per share, with a total value of $600,873.24. Following the transaction, the director owned 9,537 shares in the company, valued at $859,665.18. This trade represents a 232.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mitchell Jacobson purchased 51,954 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average price of $84.43 per share, for a total transaction of $4,386,476.22. Following the acquisition, the director directly owned 2,305,322 shares of the company’s stock, valued at $194,638,336.46. This trade represents a 2.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 188,472 shares of company stock valued at $16,008,930 over the last 90 days. 18.30% of the stock is currently owned by insiders.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $85.02 on Wednesday. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $94.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.68. The firm has a 50 day moving average price of $88.58 and a 200 day moving average price of $86.33. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 23.88 and a beta of 0.98.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06. MSC Industrial Direct had a net margin of 5.29% and a return on equity of 15.21%. The company had revenue of $978.18 million for the quarter, compared to the consensus estimate of $964.03 million. During the same quarter last year, the firm posted $1.03 earnings per share. MSC Industrial Direct’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 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 26th. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 4.1%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, November 12th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 97.75%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MSM. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Friday, October 31st. Wolfe Research cut shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. JPMorgan Chase & Co. upped their price objective on shares of MSC Industrial Direct from $93.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Zacks Research raised shares of MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $91.50.

About MSC Industrial Direct

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.