Hsbc Holdings PLC Makes New Investment in MSC Industrial Direct Company, Inc. $MSM

Hsbc Holdings PLC bought a new position in MSC Industrial Direct Company, Inc. (NYSE:MSM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,530 shares of the industrial products company’s stock, valued at approximately $1,481,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MSM. Royal Bank of Canada lifted its holdings in MSC Industrial Direct by 4.8% during the first quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock worth $3,650,000 after acquiring an additional 2,164 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of MSC Industrial Direct during the 1st quarter valued at $455,000. NewEdge Advisors LLC raised its stake in shares of MSC Industrial Direct by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 333 shares during the period. United Services Automobile Association bought a new stake in shares of MSC Industrial Direct during the 1st quarter worth $229,000. Finally, Empowered Funds LLC purchased a new position in shares of MSC Industrial Direct in the 1st quarter worth about $816,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MSM shares. Weiss Ratings upgraded shares of MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Jefferies Financial Group set a $130.00 price objective on MSC Industrial Direct in a research note on Wednesday, July 1st. DA Davidson increased their price objective on MSC Industrial Direct from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Zacks Research raised MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Finally, KeyCorp lifted their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.17.

MSC Industrial Direct Stock Performance

MSM stock traded up $2.15 during midday trading on Friday, reaching $122.81. 610,278 shares of the company’s stock traded hands, compared to its average volume of 849,219. The firm has a market capitalization of $6.86 billion, a PE ratio of 29.67 and a beta of 0.83. The company has a 50-day moving average price of $113.16 and a two-hundred day moving average price of $98.50. MSC Industrial Direct Company, Inc. has a 52 week low of $78.80 and a 52 week high of $127.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.47 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 8th. MSC Industrial Direct’s payout ratio is presently 84.06%.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.