Convergence Investment Partners LLC Takes $1.19 Million Position in MSC Industrial Direct Company, Inc. $MSM

Convergence Investment Partners LLC acquired a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,916 shares of the industrial products company’s stock, valued at approximately $1,190,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new stake in shares of MSC Industrial Direct during the third quarter worth about $31,000. EverSource Wealth Advisors LLC raised its holdings in MSC Industrial Direct by 130.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after buying an additional 326 shares during the period. First Horizon Advisors Inc. lifted its stake in MSC Industrial Direct by 52.2% in the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock valued at $51,000 after buying an additional 204 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of MSC Industrial Direct by 79.9% in the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after buying an additional 333 shares during the period. Finally, Traub Capital Management LLC acquired a new position in shares of MSC Industrial Direct in the second quarter valued at approximately $73,000. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Stock Up 4.7%

MSM stock opened at $88.33 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.73 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $85.47 and a two-hundred day moving average price of $87.33. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 24.13 and a beta of 0.84. MSC Industrial Direct Company, Inc. has a twelve month low of $68.10 and a twelve month high of $94.31.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, January 7th. The industrial products company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $965.68 million during the quarter, compared to the consensus estimate of $962.52 million. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th were paid a dividend of $0.87 per share. The ex-dividend date was Wednesday, January 14th. This represents a $3.48 annualized dividend and a dividend yield of 3.9%. MSC Industrial Direct’s payout ratio is currently 95.08%.

Insider Transactions at MSC Industrial Direct

In other news, Director Philip Peller bought 6,666 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $90.14 per share, for a total transaction of $600,873.24. Following the purchase, the director owned 9,537 shares of the company’s stock, valued at approximately $859,665.18. This trade represents a 232.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mitchell Jacobson purchased 22,870 shares of the stock in a transaction on Tuesday, November 18th. The shares were acquired at an average cost of $84.96 per share, for a total transaction of $1,943,035.20. Following the transaction, the director owned 2,328,192 shares of the company’s stock, valued at approximately $197,803,192.32. The trade was a 0.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MSM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Wednesday, January 28th. Robert W. Baird set a $94.00 price target on MSC Industrial Direct in a report on Thursday, January 8th. Jefferies Financial Group reiterated a “hold” rating and set a $85.00 price objective on shares of MSC Industrial Direct in a report on Thursday, January 8th. KeyCorp reissued a “sector weight” rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. upped their price target on MSC Industrial Direct from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $89.67.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.