AMG National Trust Bank Has $1.79 Million Stock Position in MSC Industrial Direct Company, Inc. $MSM

AMG National Trust Bank grew its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 29.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,421 shares of the industrial products company’s stock after purchasing an additional 4,467 shares during the period. AMG National Trust Bank’s holdings in MSC Industrial Direct were worth $1,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MSM. First Horizon Corp grew its position in MSC Industrial Direct by 101.0% during the 1st quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 201 shares during the last quarter. Hantz Financial Services Inc. raised its position 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 purchasing an additional 153 shares during the last quarter. Quarry LP boosted its stake in shares of MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of MSC Industrial Direct during the fourth quarter valued at about $48,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of MSC Industrial Direct by 130.4% during the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 326 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $124.04 on Wednesday. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 29.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. MSC Industrial Direct Company, Inc. has a fifty-two week low of $78.80 and a fifty-two week high of $127.51. The firm’s 50-day simple moving average is $114.02 and its 200 day simple moving average is $99.10.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.08 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.47 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 84.06%.

Analysts Set New Price Targets

Several brokerages have issued reports on MSM. KeyCorp upped their price target on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Rothschild & Co Redburn initiated coverage on MSC Industrial Direct in a research report on Monday. They set a “buy” rating and a $155.00 target price for the company. Weiss Ratings raised MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Zacks Research upgraded MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen raised MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, MSC Industrial Direct currently has an average rating of “Moderate Buy” and a consensus price target of $123.43.

About MSC Industrial Direct

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.