Cresset Asset Management LLC Takes Position in MSC Industrial Direct Company, Inc. $MSM

Cresset Asset Management LLC bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 7,386 shares of the industrial products company’s stock, valued at approximately $681,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in MSC Industrial Direct by 1.3% in the third quarter. Arizona State Retirement System now owns 13,180 shares of the industrial products company’s stock worth $1,214,000 after acquiring an additional 170 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of MSC Industrial Direct by 1.6% during the third quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the industrial products company’s stock valued at $1,170,000 after acquiring an additional 200 shares in the last quarter. CWM LLC increased its holdings in shares of MSC Industrial Direct by 8.7% during the third quarter. CWM LLC now owns 2,744 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 220 shares in the last quarter. Cetera Investment Advisers raised its position in shares of MSC Industrial Direct by 5.5% during the second quarter. Cetera Investment Advisers now owns 4,216 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 221 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of MSC Industrial Direct by 2.2% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 10,176 shares of the industrial products company’s stock worth $938,000 after purchasing an additional 222 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Trading Up 2.6%

Shares of MSC Industrial Direct stock opened at $92.46 on Thursday. The company has a market capitalization of $5.16 billion, a P/E ratio of 25.26 and a beta of 0.81. The stock has a fifty day simple moving average of $89.38 and a 200 day simple moving average of $88.49. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $96.99. The company has a current ratio of 1.73, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The business had revenue of $965.68 million for the quarter, compared to analysts’ expectations of $962.52 million. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. On average, sell-side analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, January 14th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 95.08%.

Analyst Upgrades and Downgrades

MSM has been the subject of several research reports. Zacks Research downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $95.00 price objective on shares of MSC Industrial Direct in a report on Friday, February 6th. iA Financial set a $95.00 price objective on shares of MSC Industrial Direct in a report on Friday, February 6th. Wall Street Zen downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, KeyCorp restated a “sector weight” rating on shares of MSC Industrial Direct in a report on Thursday, January 8th. Nine analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.50.

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.