Global Assets Advisory LLC Buys Shares of 14,566 MSC Industrial Direct Co., Inc. (NYSE:MSM)

Global Assets Advisory LLC purchased a new position in MSC Industrial Direct Co., Inc. (NYSE:MSM) in the 1st quarter, Holdings Channel reports. The firm purchased 14,566 shares of the industrial products company’s stock, valued at approximately $1,413,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FCF Advisors LLC increased its holdings in MSC Industrial Direct by 8.0% in the 1st quarter. FCF Advisors LLC now owns 7,975 shares of the industrial products company’s stock worth $774,000 after buying an additional 592 shares in the last quarter. Rockland Trust Co. grew its stake in shares of MSC Industrial Direct by 2.0% in the first quarter. Rockland Trust Co. now owns 10,471 shares of the industrial products company’s stock worth $1,016,000 after acquiring an additional 207 shares during the period. Red Spruce Capital LLC raised its holdings in shares of MSC Industrial Direct by 1.9% during the first quarter. Red Spruce Capital LLC now owns 20,031 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 380 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in MSC Industrial Direct by 3.3% during the first quarter. Carolina Wealth Advisors LLC now owns 3,978 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 127 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in MSC Industrial Direct by 30.0% in the first quarter. GAMMA Investing LLC now owns 528 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 122 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Stock Down 0.9 %

NYSE MSM opened at $78.87 on Thursday. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $105.77. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.44 billion, a P/E ratio of 14.16 and a beta of 0.89. The stock’s 50-day moving average price is $87.74 and its 200-day moving average price is $94.43.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.02. The business had revenue of $935.30 million for the quarter, compared to the consensus estimate of $946.55 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 earnings per share. On average, equities research analysts predict that MSC Industrial Direct Co., Inc. will post 4.89 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MSM shares. Stephens reiterated an “overweight” rating and set a $110.00 target price on shares of MSC Industrial Direct in a research note on Friday, June 14th. Loop Capital cut MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research report on Monday, June 17th. Baird R W cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. KeyCorp lowered shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Finally, Robert W. Baird dropped their price objective on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $93.00.

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.