Wealthfront Advisers LLC purchased a new stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,439 shares of the industrial products company's stock, valued at approximately $1,975,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in MSC Industrial Direct by 8.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,844 shares of the industrial products company's stock worth $959,000 after purchasing an additional 1,024 shares during the period. Ceera Investments LLC lifted its holdings in shares of MSC Industrial Direct by 30.4% in the fourth quarter. Ceera Investments LLC now owns 14,348 shares of the industrial products company's stock worth $1,072,000 after acquiring an additional 3,342 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of MSC Industrial Direct in the fourth quarter worth about $930,000. Raymond James Financial Inc. bought a new position in shares of MSC Industrial Direct in the fourth quarter worth about $4,871,000. Finally, Proficio Capital Partners LLC bought a new position in shares of MSC Industrial Direct in the fourth quarter worth about $920,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of MSC Industrial Direct in a report on Thursday, January 16th. They issued an "outperform" rating and a $95.00 target price for the company. Stephens lowered shares of MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price objective for the company. in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $83.80.
Read Our Latest Report on MSC Industrial Direct
MSC Industrial Direct Trading Up 1.6 %
NYSE:MSM traded up $1.24 on Wednesday, reaching $79.23. 397,753 shares of the stock traded hands, compared to its average volume of 589,292. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 18.91 and a beta of 0.90. The company's 50 day moving average is $80.56 and its 200-day moving average is $81.49. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a 1-year low of $72.79 and a 1-year high of $100.35.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. The business had revenue of $928.50 million during the quarter, compared to the consensus estimate of $904.90 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. Equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.
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.
Further Reading
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
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
