Corient Private Wealth LLC Acquires 11,523 Shares of MSC Industrial Direct Company, Inc. $MSM

Corient Private Wealth LLC lifted its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 146.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,407 shares of the industrial products company’s stock after buying an additional 11,523 shares during the period. Corient Private Wealth LLC’s holdings in MSC Industrial Direct were worth $1,635,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP boosted its stake in MSC Industrial Direct by 71.7% in the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after buying an additional 210 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of MSC Industrial Direct by 42.4% in the 4th quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 153 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of MSC Industrial Direct in the 4th quarter valued at approximately $48,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 valued at $49,000 after purchasing an additional 326 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of MSC Industrial Direct by 25.9% during the 4th quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 129 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of MSC Industrial Direct from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. DA Davidson initiated coverage on shares of MSC Industrial Direct in a research note on Tuesday, June 16th. They set a “buy” rating and a $145.00 target price on the stock. Finally, KeyCorp upped their price target on shares of MSC Industrial Direct from $117.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.00.

MSC Industrial Direct Price Performance

MSM stock opened at $118.88 on Wednesday. The company has a fifty day moving average price of $109.61 and a 200-day moving average price of $96.60. The company has a market capitalization of $6.64 billion, a P/E ratio of 31.96 and a beta of 0.84. MSC Industrial Direct Company, Inc. has a 52-week low of $78.80 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 1.73.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). The business had revenue of $917.77 million during the quarter, compared to the consensus estimate of $931.69 million. MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. As a group, equities analysts expect that MSC Industrial Direct Company, Inc. will post 4.36 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $3.48 annualized dividend and a yield of 2.9%. MSC Industrial Direct’s payout ratio is presently 93.55%.

About MSC Industrial Direct

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.