MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC grew its position in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 27.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,343 shares of the industrial products company's stock after purchasing an additional 13,258 shares during the period. Tectonic Advisors LLC owned approximately 0.11% of MSC Industrial Direct worth $5,365,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Entropy Technologies LP purchased a new stake in shares of MSC Industrial Direct in the first quarter worth about $775,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of MSC Industrial Direct by 183.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,323 shares of the industrial products company's stock worth $2,142,000 after buying an additional 14,451 shares during the last quarter. Swedbank AB purchased a new stake in shares of MSC Industrial Direct in the first quarter worth about $16,571,000. Sei Investments Co. boosted its stake in shares of MSC Industrial Direct by 7.4% in the first quarter. Sei Investments Co. now owns 130,123 shares of the industrial products company's stock worth $12,627,000 after buying an additional 8,971 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of MSC Industrial Direct in the first quarter worth about $1,253,000. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Price Performance

Shares of NYSE MSM traded up $0.84 during midday trading on Friday, hitting $78.63. The stock had a trading volume of 1,166,834 shares, compared to its average volume of 570,063. The company has a market capitalization of $4.41 billion, a PE ratio of 15.27 and a beta of 0.86. The stock has a 50 day simple moving average of $82.03 and a 200-day simple moving average of $84.47. MSC Industrial Direct Co., Inc. has a 1 year low of $75.05 and a 1 year high of $104.76. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The firm had revenue of $952.30 million during the quarter, compared to analysts' expectations of $959.74 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The business's revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 EPS. On average, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from MSC Industrial Direct's previous quarterly dividend of $0.83. MSC Industrial Direct's dividend payout ratio (DPR) is currently 64.47%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MSM shares. Loop Capital lowered their target price on MSC Industrial Direct from $80.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their price target on MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Robert W. Baird increased their price target on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $90.20.

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.