Yousif Capital Management LLC Lowers Position in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Yousif Capital Management LLC cut its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,358 shares of the industrial products company’s stock after selling 351 shares during the quarter. Yousif Capital Management LLC’s holdings in MSC Industrial Direct were worth $1,271,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MSM. Invesco Ltd. lifted its position in shares of MSC Industrial Direct by 127.5% in the 4th quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company’s stock worth $90,137,000 after purchasing an additional 676,238 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in shares of MSC Industrial Direct during the 4th quarter worth $35,576,000. Norges Bank purchased a new stake in shares of MSC Industrial Direct during the 4th quarter worth $34,735,000. First Trust Advisors LP lifted its stake in shares of MSC Industrial Direct by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company’s stock worth $148,443,000 after purchasing an additional 448,708 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of MSC Industrial Direct by 138.1% during the 4th quarter. Millennium Management LLC now owns 366,792 shares of the industrial products company’s stock worth $27,396,000 after purchasing an additional 212,730 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Trading Down 0.7%

NYSE MSM opened at $81.51 on Wednesday. The stock has a market cap of $4.54 billion, a P/E ratio of 21.51 and a beta of 0.87. The company has a current ratio of 1.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $78.90 and a two-hundred day simple moving average of $79.32. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $90.81.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.69%. The company had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. During the same quarter last year, the business posted $1.18 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Wednesday, April 9th. MSC Industrial Direct’s dividend payout ratio is presently 89.71%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Loop Capital decreased their price target on shares of MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, April 4th. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, April 4th. Wolfe Research upgraded MSC Industrial Direct to a “strong-buy” rating in a report on Sunday, April 6th. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. upgraded MSC Industrial Direct from a “neutral” rating to an “overweight” rating and increased their price target for the company from $73.00 to $89.00 in a research note on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Insiders Place Their Bets

In related news, Director Mitchell Jacobson acquired 27,642 shares of MSC Industrial Direct stock in a transaction on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the purchase, the director now owns 1,951,725 shares of the company’s stock, valued at approximately $136,171,853.25. This represents a 1.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.30% of the stock is currently owned by insiders.

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.