VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.39 Million in MSC Industrial Direct Company, Inc. $MSM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 11,700 shares of the industrial products company’s stock, valued at approximately $1,392,000.

Other hedge funds have also recently modified their holdings of the company. Elevation Wealth Partners LLC raised its stake in MSC Industrial Direct by 89.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. First Horizon Corp lifted its position in MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 201 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in MSC Industrial Direct by 42.4% in the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 153 shares in the last quarter. Quarry LP boosted its stake in MSC Industrial Direct by 71.7% in the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of MSC Industrial Direct during the fourth quarter worth about $48,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Price Performance

Shares of MSM opened at $120.43 on Friday. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $130.46. The stock’s 50 day moving average is $122.06 and its two-hundred day moving average is $109.26. The firm has a market capitalization of $6.73 billion, a PE ratio of 29.09 and a beta of 0.83. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.28 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. Research analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a $0.87 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. MSC Industrial Direct’s dividend payout ratio is currently 84.06%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. KeyCorp boosted their target price on MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Weiss Ratings downgraded MSC Industrial Direct from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen raised MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Rothschild & Co Redburn began coverage on MSC Industrial Direct in a research note on Monday, July 13th. They issued a “buy” rating and a $155.00 price objective for the company. Finally, DA Davidson increased their price objective on MSC Industrial Direct from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $123.43.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a distributor of metalworking and maintenance, repair and operations (MRO) supplies. The company serves industrial and institutional customers by helping them source the products, services and expertise needed to operate and maintain manufacturing facilities, equipment and workplaces.

Its product offerings include cutting tools, abrasives, fasteners, hand and power tools, safety equipment, material-handling products, janitorial supplies, plumbing and electrical items, and other industrial consumables.