NewSquare Capital LLC Has $7.79 Million Stock Holdings in MSC Industrial Direct Company, Inc. $MSM

NewSquare Capital LLC lifted its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 4.3% during the 2nd quarter, Holdings Channel reports. The firm owned 92,814 shares of the industrial products company’s stock after purchasing an additional 3,799 shares during the quarter. NewSquare Capital LLC’s holdings in MSC Industrial Direct were worth $7,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC acquired a new position in shares of MSC Industrial Direct during the 1st quarter worth about $25,000. Investment Management Corp VA ADV grew its stake in MSC Industrial Direct by 207.8% in the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company’s stock valued at $31,000 after buying an additional 268 shares during the last quarter. Neo Ivy Capital Management acquired a new position in MSC Industrial Direct in the 1st quarter valued at about $32,000. GAMMA Investing LLC grew its stake in MSC Industrial Direct by 47.1% in the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock valued at $53,000 after buying an additional 218 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in MSC Industrial Direct by 79.9% in the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after buying an additional 333 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSM has been the topic of a number of research reports. Zacks Research lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Wolfe Research lowered shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of MSC Industrial Direct from $93.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a research note on Friday. Finally, Wall Street Zen upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Hold” and an average price target of $91.50.

MSC Industrial Direct Stock Performance

Shares of NYSE:MSM opened at $84.79 on Tuesday. The company’s 50 day moving average price is $89.41 and its two-hundred day moving average price is $85.51. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $94.31. The company has a quick ratio of 0.80, a current ratio of 1.68 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4.72 billion, a PE ratio of 23.82 and a beta of 0.95.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06. MSC Industrial Direct had a net margin of 5.29% and a return on equity of 15.21%. The company had revenue of $978.18 million during the quarter, compared to the consensus estimate of $964.03 million. During the same quarter 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. Equities research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.87 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.1%. MSC Industrial Direct’s payout ratio is currently 97.75%.

Insider Buying and Selling at MSC Industrial Direct

In other news, Director Mitchell Jacobson purchased 51,954 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $84.43 per share, with a total value of $4,386,476.22. Following the acquisition, the director owned 2,305,322 shares in the company, valued at approximately $194,638,336.46. The trade was a 2.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have purchased 181,806 shares of company stock worth $15,408,056. Corporate insiders own 18.30% of the company’s stock.

About MSC Industrial Direct

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.