WealthPLAN Partners LLC Has $7.18 Million Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

WealthPLAN Partners LLC reduced its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 23.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,024 shares of the industrial products company’s stock after selling 22,739 shares during the period. WealthPLAN Partners LLC owned 0.13% of MSC Industrial Direct worth $7,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSM. Contravisory Investment Management Inc. acquired a new stake in MSC Industrial Direct in the 4th quarter valued at $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of MSC Industrial Direct during the 1st quarter worth about $29,000. GAMMA Investing LLC acquired a new position in shares of MSC Industrial Direct during the 4th quarter worth about $40,000. Quarry LP acquired a new position in shares of MSC Industrial Direct during the 4th quarter worth about $40,000. Finally, Salem Investment Counselors Inc. acquired a new position in shares of MSC Industrial Direct during the 4th quarter worth about $77,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Performance

Shares of MSM stock traded up $1.27 during midday trading on Friday, hitting $79.32. 627,057 shares of the company were exchanged, compared to its average volume of 900,620. The firm has a market capitalization of $4.45 billion, a P/E ratio of 15.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. The firm’s 50 day moving average price is $84.32 and its two-hundred day moving average price is $92.39. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $105.77.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.33. The firm had revenue of $979.40 million during the quarter, compared to the consensus estimate of $979.10 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 EPS. As a group, equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio is currently 64.47%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MSM. StockNews.com lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. JPMorgan Chase & Co. lowered their price objective on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. KeyCorp lowered shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Loop Capital reduced their target price on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, Robert W. Baird reduced their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $90.20.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.