MSC Industrial Direct Company, Inc. $MSM Stock Holdings Lowered by State of Wyoming

State of Wyoming lessened its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 57.8% during the third quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Elevation Wealth Partners LLC grew its stake in shares of MSC Industrial Direct by 89.9% in the second quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock valued at $29,000 after buying an additional 116 shares in the last quarter. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at about $32,000. First Horizon Corp boosted its holdings in MSC Industrial Direct by 101.0% in the 1st quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 201 shares during the period. Parkside Financial Bank & Trust boosted its holdings in MSC Industrial Direct by 60.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 319 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 120 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in MSC Industrial Direct in the third quarter valued at approximately $75,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of MSC Industrial Direct in a research note on Tuesday, September 15th. They set a “peer perform” rating on the stock. Jefferies Financial Group upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $135.00 in a research note on Friday, October 23rd. 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. DA Davidson set a $155.00 price target on shares of MSC Industrial Direct in a research note on Tuesday, October 13th. Finally, Rothschild & Co Redburn assumed coverage on shares of MSC Industrial Direct in a report on Monday, July 13th. They issued a “buy” rating and a $155.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, MSC Industrial Direct has an average rating of “Moderate Buy” and an average price target of $133.22.

MSC Industrial Direct Trading Up 0.5%

Shares of MSM opened at $120.22 on Wednesday. MSC Industrial Direct Company, Inc. has a one year low of $78.80 and a one year high of $133.95. The stock has a 50-day moving average price of $123.20 and a 200 day moving average price of $109.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 1.78. The company has a market capitalization of $6.72 billion, a P/E ratio of 30.21 and a beta of 0.83.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $1.09 EPS. MSC Industrial Direct’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts forecast that MSC Industrial Direct Company, Inc. will post 5.51 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.87. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.0%. MSC Industrial Direct’s dividend payout ratio is 87.44%.

Insiders Place Their Bets

In related news, Director Mitchell Jacobson acquired 250,000 shares of MSC Industrial Direct stock in a transaction on Friday, October 23rd. The shares were purchased at an average cost of $115.94 per share, for a total transaction of $28,985,000.00. Following the purchase, the director directly owned 2,578,192 shares of the company’s stock, valued at $298,915,580.48. The trade was a 10.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reuben E. Slone acquired 433 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were bought at an average cost of $115.77 per share, with a total value of $50,128.41. Following the completion of the acquisition, the director owned 433 shares in the company, valued at $50,128.41. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 19.00% of the stock is currently owned by 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.