Raymond James & Associates Grows Stake in MSC Industrial Direct (MSM)

Raymond James & Associates raised its position in MSC Industrial Direct (NYSE:MSM) by 653.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 306,544 shares of the industrial products company’s stock after purchasing an additional 265,850 shares during the quarter. Raymond James & Associates owned 0.54% of MSC Industrial Direct worth $29,631,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wasatch Advisors Inc. raised its position in shares of MSC Industrial Direct by 13.2% in the fourth quarter. Wasatch Advisors Inc. now owns 5,130 shares of the industrial products company’s stock valued at $496,000 after buying an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MSC Industrial Direct by 49.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,294 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 755 shares in the last quarter. Vident Investment Advisory LLC increased its holdings in shares of MSC Industrial Direct by 24.0% during the third quarter. Vident Investment Advisory LLC now owns 4,777 shares of the industrial products company’s stock worth $361,000 after buying an additional 924 shares in the last quarter. Delpha Capital Management LLC acquired a new position in shares of MSC Industrial Direct during the fourth quarter worth $111,000. Finally, Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of MSC Industrial Direct by 5.5% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 22,407 shares of the industrial products company’s stock worth $2,166,000 after buying an additional 1,160 shares in the last quarter. 75.35% of the stock is currently owned by institutional investors and hedge funds.

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Shares of MSM stock traded down $1.24 during mid-day trading on Friday, reaching $92.00. The stock had a trading volume of 855,353 shares, compared to its average volume of 622,029. MSC Industrial Direct has a 52-week low of $65.42 and a 52-week high of $99.94. The stock has a market capitalization of $5,263.96, a price-to-earnings ratio of 22.52, a PEG ratio of 1.34 and a beta of 0.60. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The firm had revenue of $768.60 million during the quarter, compared to analysts’ expectations of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. MSC Industrial Direct’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. equities analysts predict that MSC Industrial Direct will post 5.12 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, April 16th. MSC Industrial Direct’s payout ratio is 57.28%.

MSC Industrial Direct declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 10th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Several analysts recently weighed in on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $112.00 price objective (up previously from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $93.00 price target on shares of MSC Industrial Direct in a research report on Monday, December 11th. Zacks Investment Research cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Northcoast Research raised shares of MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. Finally, UBS lowered shares of MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $96.93.

In related news, SVP Christopher Davanzo sold 12,046 shares of the business’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $93.43, for a total transaction of $1,125,457.78. Following the sale, the senior vice president now owns 12,432 shares of the company’s stock, valued at $1,161,521.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mitchell Jacobson sold 362,753 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $94.09, for a total transaction of $34,131,429.77. Following the sale, the director now directly owns 90,000 shares in the company, valued at approximately $8,468,100. The disclosure for this sale can be found here. Insiders have sold a total of 783,437 shares of company stock worth $74,083,049 in the last ninety days. Insiders own 31.28% of the company’s stock.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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