Raymond James Financial Services Advisors Inc. Grows Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Raymond James Financial Services Advisors Inc. grew its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) by 38.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,043 shares of the industrial products company’s stock after acquiring an additional 7,005 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in MSC Industrial Direct were worth $1,824,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Allworth Financial LP bought a new stake in shares of MSC Industrial Direct during the second quarter valued at approximately $38,000. Bogart Wealth LLC purchased a new position in MSC Industrial Direct during the 2nd quarter worth approximately $59,000. Geneos Wealth Management Inc. grew its position in MSC Industrial Direct by 46.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 805 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 255 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in MSC Industrial Direct by 500.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 805 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 671 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in MSC Industrial Direct by 24.5% during the 2nd quarter. Global Retirement Partners LLC now owns 824 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 162 shares in the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MSC Industrial Direct

In other news, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $85.18, for a total value of $4,259,000.00. Following the completion of the transaction, the chief executive officer now owns 463,723 shares of the company’s stock, valued at approximately $39,499,925.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 28.39% of the stock is owned by insiders.

Analysts Set New Price Targets

MSM has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of MSC Industrial Direct in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Robert W. Baird increased their price target on shares of MSC Industrial Direct from $92.00 to $95.00 in a research note on Friday, January 6th. KeyCorp cut their price objective on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, October 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $84.00 target price on shares of MSC Industrial Direct in a report on Monday, October 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

MSC Industrial Direct Stock Down 1.6 %

Shares of MSM stock opened at $79.08 on Wednesday. The firm has a fifty day moving average of $82.81 and a 200-day moving average of $80.21. The company has a quick ratio of 1.15, a current ratio of 2.14 and a debt-to-equity ratio of 0.32. MSC Industrial Direct Co., Inc. has a 12-month low of $71.32 and a 12-month high of $87.99. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 2.65 and a beta of 1.02.

MSC Industrial Direct (NYSE:MSMGet Rating) last issued its quarterly earnings data on Thursday, October 20th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.02. MSC Industrial Direct had a net margin of 9.34% and a return on equity of 26.97%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. As a group, equities research analysts predict that MSC Industrial Direct Co., Inc. will post 6.07 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 24th. Investors of record on Tuesday, January 10th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Monday, January 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 49.84%.

MSC Industrial Direct Company Profile

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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, and the United Kingdom. Its 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.

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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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