MSC Industrial Direct Company, Inc. $MSM Shares Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. lifted its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,865 shares of the industrial products company’s stock after buying an additional 5,644 shares during the quarter. Raymond James Financial Inc. owned approximately 0.13% of MSC Industrial Direct worth $5,504,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of MSC Industrial Direct by 47.1% during the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 218 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of MSC Industrial Direct by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 337 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of MSC Industrial Direct by 4.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company’s stock valued at $705,000 after purchasing an additional 388 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of MSC Industrial Direct by 895.0% in the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 537 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of MSC Industrial Direct in the 1st quarter valued at $897,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Price Performance

MSM opened at $92.60 on Friday. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 26.16 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $92.68. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $88.27 and a 200 day moving average price of $82.05.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%.The company had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. During the same period last year, the company earned $1.33 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. Analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, July 9th. MSC Industrial Direct’s payout ratio is currently 96.05%.

Wall Street Analyst Weigh In

MSM has been the topic of several recent analyst reports. Stephens upped their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised 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 report on Tuesday, May 27th. Robert W. Baird raised their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a research note on Tuesday, May 27th. Finally, Loop Capital lifted their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the company a “hold” rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.33.

Insider Buying and Selling at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the business’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $195,960.00. Following the completion of the transaction, the senior vice president owned 14,657 shares of the company’s stock, valued at approximately $1,348,444. The trade was a 12.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.30% of the company’s stock.

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.