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

Convergence Investment Partners LLC bought a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in the third quarter, HoldingsChannel reports. The institutional investor bought 12,916 shares of the industrial products company’s stock, valued at approximately $1,190,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC acquired a new stake in MSC Industrial Direct during the third quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew its position in shares of MSC Industrial Direct by 130.4% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 326 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of MSC Industrial Direct by 52.2% during the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 204 shares during the period. NewEdge Advisors LLC lifted its holdings in MSC Industrial Direct by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 333 shares during the last quarter. Finally, Traub Capital Management LLC bought a new stake in MSC Industrial Direct in the 2nd quarter valued at $73,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MSM. Wall Street Zen cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday. KeyCorp reaffirmed a “sector weight” rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of MSC Industrial Direct from $93.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Wolfe Research cut shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $85.00 price target on shares of MSC Industrial Direct in a research note on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.67.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $88.33 on Tuesday. The firm has a 50 day moving average of $85.47 and a 200-day moving average of $87.33. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $94.31. The company has a current ratio of 1.73, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.93 billion, a PE ratio of 24.13 and a beta of 0.84.

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

MSC Industrial Direct Announces Dividend

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

Insider Buying and Selling at MSC Industrial Direct

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

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.