Brookstone Capital Management Buys New Stake in MSC Industrial Direct Company, Inc. (MSM)
Brookstone Capital Management bought a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,269 shares of the industrial products company’s stock, valued at approximately $281,000.
Other hedge funds have also added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC raised its stake in MSC Industrial Direct by 3.5% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,093 shares of the industrial products company’s stock valued at $112,000 after buying an additional 37 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in MSC Industrial Direct by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,569 shares of the industrial products company’s stock valued at $161,000 after buying an additional 88 shares in the last quarter. Invictus RG raised its stake in MSC Industrial Direct by 796.7% in the first quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock valued at $167,000 after buying an additional 1,442 shares in the last quarter. HighTower Advisors LLC acquired a new stake in MSC Industrial Direct during the first quarter valued at approximately $217,000. Finally, Harfst & Associates Inc. acquired a new stake in MSC Industrial Direct during the first quarter valued at approximately $233,000. 75.69% of the stock is owned by institutional investors and hedge funds.
Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) opened at 67.06 on Tuesday. The stock’s 50 day moving average is $71.98 and its 200-day moving average is $87.85. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 16.72 and a beta of 0.50. MSC Industrial Direct Company, Inc. has a 12-month low of $65.42 and a 12-month high of $105.70.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.09. The firm had revenue of $743.90 million for the quarter, compared to analysts’ expectations of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. On average, analysts anticipate that MSC Industrial Direct Company, Inc. will post $3.98 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, July 14th. MSC Industrial Direct’s payout ratio is 45.11%.
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Several analysts recently commented on MSM shares. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Saturday, July 8th. TheStreet lowered shares of MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th. Stifel Nicolaus reissued a “hold” rating and set a $88.00 target price (down from $92.00) on shares of MSC Industrial Direct in a research note on Monday, June 12th. BMO Capital Markets cut their target price on shares of MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a research note on Friday, July 14th. Finally, Northcoast Research started coverage on shares of MSC Industrial Direct in a research note on Tuesday, July 25th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. MSC Industrial Direct has an average rating of “Hold” and a consensus price target of $91.75.
In other MSC Industrial Direct news, Director Philip Peller purchased 1,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were purchased at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the acquisition, the director now owns 2,422 shares of the company’s stock, valued at $174,384. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 31.28% of the stock is currently owned by corporate insiders.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.
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