WealthPLAN Partners LLC Sells 11,317 Shares of MSC Industrial Direct Company, Inc. $MSM

WealthPLAN Partners LLC cut its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 30.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 25,771 shares of the industrial products company’s stock after selling 11,317 shares during the period. WealthPLAN Partners LLC’s holdings in MSC Industrial Direct were worth $2,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Willis Investment Counsel grew its position in shares of MSC Industrial Direct by 48.6% in the fourth quarter. Willis Investment Counsel now owns 37,870 shares of the industrial products company’s stock valued at $3,185,000 after purchasing an additional 12,383 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in MSC Industrial Direct by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,489 shares of the industrial products company’s stock worth $26,581,000 after purchasing an additional 38,088 shares during the last quarter. Cinctive Capital Management LP bought a new stake in MSC Industrial Direct in the 3rd quarter valued at $2,298,000. Dimensional Fund Advisors LP grew its holdings in MSC Industrial Direct by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,322,432 shares of the industrial products company’s stock valued at $121,842,000 after buying an additional 15,765 shares in the last quarter. Finally, AMG National Trust Bank acquired a new position in MSC Industrial Direct in the 4th quarter valued at $1,258,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $120.10 on Wednesday. The firm has a 50 day moving average of $112.08 and a 200-day moving average of $97.86. The stock has a market capitalization of $6.71 billion, a PE ratio of 29.01 and a beta of 0.83. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. MSC Industrial Direct Company, Inc. has a 12 month low of $78.80 and a 12 month high of $127.51.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. On average, equities research analysts predict that MSC Industrial Direct Company, Inc. will post 4.46 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm 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 $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 84.06%.

Analysts Set New Price Targets

MSM has been the subject of a number of research reports. Zacks Research raised MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. Jefferies Financial Group set a $130.00 price target on shares of MSC Industrial Direct in a research note on Wednesday, July 1st. DA Davidson raised their price target on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of MSC Industrial Direct from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Finally, KeyCorp boosted their price objective on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $118.17.

MSC Industrial Direct Company 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.