Valley National Advisers Inc. trimmed its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 67.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,578 shares of the industrial products company's stock after selling 19,886 shares during the quarter. Valley National Advisers Inc.'s holdings in MSC Industrial Direct were worth $823,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MSM. Blue Trust Inc. raised its stake in MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company's stock valued at $26,000 after buying an additional 297 shares during the last quarter. Ridgewood Investments LLC purchased a new position in MSC Industrial Direct in the second quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at about $26,000. UMB Bank n.a. increased its position in shares of MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 252 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of MSC Industrial Direct by 35,300.0% in the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company's stock worth $28,000 after purchasing an additional 353 shares during the period. 79.26% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MSM has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a report on Friday. Robert W. Baird raised their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Finally, Loop Capital cut their price target on MSC Industrial Direct from $80.00 to $75.00 and set a "hold" rating for the company in a report on Wednesday, July 3rd. Six 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $90.20.
Read Our Latest Report on MSM
MSC Industrial Direct Price Performance
Shares of MSM traded up $2.44 during trading hours on Monday, reaching $81.11. 662,226 shares of the stock traded hands, compared to its average volume of 670,530. The company has a market cap of $4.55 billion, a P/E ratio of 17.71 and a beta of 0.86. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The company's 50-day moving average price is $82.00 and its two-hundred day moving average price is $84.15. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $104.76.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The business had revenue of $952.30 million during the quarter, compared to the consensus estimate of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The business's revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $1.64 EPS. On average, analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.79 earnings per share for the current year.
MSC Industrial Direct Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.40 annualized dividend and a dividend yield of 4.19%. This is a boost from MSC Industrial Direct's previous quarterly dividend of $0.83. MSC Industrial Direct's dividend payout ratio (DPR) is presently 72.49%.
MSC Industrial Direct Company Profile
(
Free Report)
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.
Featured Articles
Before you consider MSC Industrial Direct, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MSC Industrial Direct wasn't on the list.
While MSC Industrial Direct currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
