IFG Advisory LLC Takes Position in MSC Industrial Direct Co Inc (MSM)
IFG Advisory LLC bought a new stake in shares of MSC Industrial Direct Co Inc (NYSE:MSM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,690 shares of the industrial products company’s stock, valued at approximately $413,000.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of MSC Industrial Direct by 3.6% during the 2nd quarter. BlackRock Inc. now owns 4,008,426 shares of the industrial products company’s stock valued at $340,115,000 after acquiring an additional 140,430 shares during the period. American Century Companies Inc. boosted its holdings in MSC Industrial Direct by 22.7% in the 3rd quarter. American Century Companies Inc. now owns 2,973,375 shares of the industrial products company’s stock worth $261,984,000 after buying an additional 549,641 shares during the last quarter. Ashler Capital LLC boosted its holdings in MSC Industrial Direct by 6.9% in the 2nd quarter. Ashler Capital LLC now owns 2,487,013 shares of the industrial products company’s stock worth $211,023,000 after buying an additional 160,053 shares during the last quarter. Schroder Investment Management Group boosted its holdings in MSC Industrial Direct by 7.5% in the 2nd quarter. Schroder Investment Management Group now owns 986,268 shares of the industrial products company’s stock worth $84,001,000 after buying an additional 68,896 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in MSC Industrial Direct by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 722,546 shares of the industrial products company’s stock worth $61,307,000 after buying an additional 111,652 shares during the last quarter. Hedge funds and other institutional investors own 75.89% of the company’s stock.
MSM has been the topic of several research analyst reports. Zacks Investment Research upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a report on Sunday, July 15th. Gordon Haskett initiated coverage on MSC Industrial Direct in a report on Friday, October 12th. They issued a “buy” rating on the stock. Buckingham Research initiated coverage on MSC Industrial Direct in a report on Friday, October 12th. They issued a “neutral” rating and a $89.00 price objective on the stock. Northcoast Research set a $95.00 price objective on MSC Industrial Direct and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, ValuEngine upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $100.00.
MSM stock opened at $87.13 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.28 and a current ratio of 2.34. MSC Industrial Direct Co Inc has a 12-month low of $75.34 and a 12-month high of $99.94. The stock has a market capitalization of $5.02 billion, a P/E ratio of 17.15, a PEG ratio of 1.00 and a beta of 0.64.
MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. The business had revenue of $838.00 million for the quarter, compared to analysts’ expectations of $838.88 million. MSC Industrial Direct had a return on equity of 21.36% and a net margin of 10.28%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 EPS. As a group, analysts expect that MSC Industrial Direct Co Inc will post 5.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.63 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.58. This represents a $2.52 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, November 9th. MSC Industrial Direct’s payout ratio is currently 45.67%.
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MSC Industrial Direct Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.
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