Arjuna Capital Lowers Stake in MSC Industrial Direct Company, Inc. $MSM

Arjuna Capital lessened its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 31.7% in the 1st quarter, Holdings Channel reports. The firm owned 36,972 shares of the industrial products company’s stock after selling 17,133 shares during the period. Arjuna Capital’s holdings in MSC Industrial Direct were worth $3,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Willis Investment Counsel raised its holdings in shares of MSC Industrial Direct by 48.6% in the 4th quarter. Willis Investment Counsel now owns 37,870 shares of the industrial products company’s stock valued at $3,185,000 after buying an additional 12,383 shares during the period. JPMorgan Chase & Co. boosted its holdings in MSC Industrial Direct by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,489 shares of the industrial products company’s stock valued at $26,581,000 after acquiring an additional 38,088 shares during the period. AMG National Trust Bank purchased a new position in MSC Industrial Direct during the 4th quarter valued at about $1,258,000. LSV Asset Management grew its position in MSC Industrial Direct by 1,711.1% in the 4th quarter. LSV Asset Management now owns 16,300 shares of the industrial products company’s stock valued at $1,371,000 after acquiring an additional 15,400 shares in the last quarter. Finally, Royce & Associates LP grew its position in MSC Industrial Direct by 8.0% in the 4th quarter. Royce & Associates LP now owns 420,750 shares of the industrial products company’s stock valued at $35,385,000 after acquiring an additional 31,260 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Down 0.9%

MSC Industrial Direct stock opened at $124.54 on Friday. The stock has a market cap of $6.96 billion, a PE ratio of 30.08 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72. The stock’s fifty day moving average is $115.22 and its two-hundred day moving average is $99.80. MSC Industrial Direct Company, Inc. has a 1-year low of $78.80 and a 1-year high of $127.51.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm posted $1.08 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that MSC Industrial Direct Company, Inc. will post 4.47 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio is 84.06%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. KeyCorp increased their price target on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Rothschild & Co Redburn started coverage on shares of MSC Industrial Direct in a report on Monday, July 13th. They issued a “buy” rating and a $155.00 price objective for the company. Zacks Research raised shares of MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Jefferies Financial Group set a $130.00 target price on shares of MSC Industrial Direct in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.43.

MSC Industrial Direct Company 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.