7,531 Shares in MSC Industrial Direct Company, Inc. $MSM Purchased by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,531 shares of the industrial products company’s stock, valued at approximately $694,000.

A number of other hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 326 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of MSC Industrial Direct by 52.2% in the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 204 shares during the period. NewEdge Advisors LLC raised its position in shares of MSC Industrial Direct by 79.9% in the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock worth $58,000 after buying an additional 333 shares in the last quarter. Traub Capital Management LLC bought a new stake in MSC Industrial Direct during the second quarter valued at $73,000. Finally, Farther Finance Advisors LLC grew its position in MSC Industrial Direct by 47.1% during the second quarter. Farther Finance Advisors LLC now owns 878 shares of the industrial products company’s stock worth $75,000 after buying an additional 281 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

MSM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of MSC Industrial Direct from $93.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Wolfe Research lowered shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Friday, October 31st. Wall Street Zen cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Zacks Research cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $91.50.

Insider Buying and Selling

In other MSC Industrial Direct news, Director Philip Peller bought 6,666 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average price of $90.14 per share, with a total value of $600,873.24. Following the purchase, the director owned 9,537 shares of the company’s stock, valued at $859,665.18. This trade represents a 232.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mitchell Jacobson bought 22,870 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were bought at an average price of $84.96 per share, with a total value of $1,943,035.20. Following the transaction, the director owned 2,328,192 shares of the company’s stock, valued at $197,803,192.32. The trade was a 0.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 211,342 shares of company stock valued at $17,951,965. 19.00% of the stock is owned by corporate insiders.

MSC Industrial Direct Price Performance

MSM opened at $87.03 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 0.80. The firm has a market cap of $4.86 billion, a PE ratio of 24.45 and a beta of 0.84. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $94.31. The stock has a 50-day moving average price of $86.29 and a 200-day moving average price of $87.41.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.06. MSC Industrial Direct had a return on equity of 15.21% and a net margin of 5.29%.The business had revenue of $978.18 million for the quarter, compared to analysts’ expectations of $964.03 million. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, January 14th. MSC Industrial Direct’s dividend payout ratio is 97.75%.

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.