Kestra Investment Management LLC Buys New Shares in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Kestra Investment Management LLC purchased a new position in MSC Industrial Direct Co., Inc. (NYSE:MSM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,260 shares of the industrial products company’s stock, valued at approximately $367,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors lifted its stake in shares of MSC Industrial Direct by 26.9% in the third quarter. Captrust Financial Advisors now owns 25,234 shares of the industrial products company’s stock valued at $2,172,000 after buying an additional 5,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of MSC Industrial Direct by 16.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,146 shares of the industrial products company’s stock worth $19,892,000 after purchasing an additional 32,013 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MSC Industrial Direct by 29.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,820 shares of the industrial products company’s stock valued at $1,017,000 after purchasing an additional 2,717 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of MSC Industrial Direct in the third quarter valued at $1,290,000. Finally, Clifford Capital Partners LLC boosted its stake in MSC Industrial Direct by 139.9% during the third quarter. Clifford Capital Partners LLC now owns 7,516 shares of the industrial products company’s stock worth $647,000 after buying an additional 4,383 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Down 1.0 %

Shares of NYSE:MSM opened at $85.01 on Tuesday. The company’s fifty day moving average is $83.79 and its 200-day moving average is $82.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $104.76. The company has a market capitalization of $4.75 billion, a PE ratio of 18.56 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The firm had revenue of $952.30 million during the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. MSC Industrial Direct’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 earnings per share. Equities research analysts predict that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.00%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 13th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 74.24%.

Insider Buying and Selling at MSC Industrial Direct

In related news, Director Philip Peller sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the completion of the transaction, the director now owns 4,044 shares in the company, valued at $360,199.08. The trade was a 18.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the transaction, the chief executive officer now owns 1,402,849 shares in the company, valued at $126,761,435.64. The trade was a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Robert W. Baird increased their price target on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.20.

About MSC Industrial Direct

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.