Victory Capital Management Inc. Sells 65,185 Shares of MSC Industrial Direct Company, Inc. $MSM

Victory Capital Management Inc. reduced its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,208,499 shares of the industrial products company’s stock after selling 65,185 shares during the period. Victory Capital Management Inc. owned approximately 2.17% of MSC Industrial Direct worth $111,351,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Quent Capital LLC acquired a new position in shares of MSC Industrial Direct during the 3rd quarter worth $31,000. Hantz Financial Services Inc. raised its stake in MSC Industrial Direct by 257.4% during the third quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 260 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of MSC Industrial Direct by 130.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 326 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of MSC Industrial Direct by 52.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 204 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings 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 valued at $58,000 after purchasing an additional 333 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on MSM shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $95.00 target price on shares of MSC Industrial Direct in a research report on Friday, February 6th. iA Financial set a $95.00 price target on MSC Industrial Direct in a research note on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a report on Wednesday, January 28th. Robert W. Baird set a $94.00 price objective on MSC Industrial Direct in a research report on Thursday, January 8th. Finally, Wall Street Zen downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Nine investment analysts have rated the stock with a Hold rating, According to MarketBeat, MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus target price of $90.50.

MSC Industrial Direct Stock Down 1.4%

Shares of NYSE:MSM opened at $91.59 on Thursday. The firm has a market cap of $5.11 billion, a P/E ratio of 25.02 and a beta of 0.81. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $96.99. The business has a fifty day simple moving average of $88.87 and a 200 day simple moving average of $88.38. The company has a quick ratio of 0.82, a current ratio of 1.73 and a debt-to-equity ratio of 0.15.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $965.68 million during the quarter, compared to analysts’ expectations of $962.52 million. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were issued a dividend of $0.87 per share. The ex-dividend date was Wednesday, January 14th. This represents a $3.48 annualized dividend and a yield of 3.8%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 95.08%.

MSC Industrial Direct Profile

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.