Red Spruce Capital LLC Invests $1.31 Million in MSC Industrial Direct Co Inc (NYSE:MSM)

Red Spruce Capital LLC acquired a new position in shares of MSC Industrial Direct Co Inc (NYSE:MSM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,663 shares of the industrial products company’s stock, valued at approximately $1,308,000.

Several other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC raised its stake in shares of MSC Industrial Direct by 450.8% during the 4th quarter. Cerebellum GP LLC now owns 7,215 shares of the industrial products company’s stock worth $566,000 after purchasing an additional 5,905 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of MSC Industrial Direct by 4.4% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 66,762 shares of the industrial products company’s stock worth $5,239,000 after purchasing an additional 2,840 shares in the last quarter. Ridgewood Investments LLC raised its stake in shares of MSC Industrial Direct by 4.6% during the 4th quarter. Ridgewood Investments LLC now owns 9,705 shares of the industrial products company’s stock worth $762,000 after purchasing an additional 423 shares in the last quarter. Diversified Trust Co bought a new stake in shares of MSC Industrial Direct during the 4th quarter worth approximately $203,000. Finally, Verity & Verity LLC raised its stake in shares of MSC Industrial Direct by 3.2% during the 4th quarter. Verity & Verity LLC now owns 39,086 shares of the industrial products company’s stock worth $3,067,000 after purchasing an additional 1,230 shares in the last quarter. Institutional investors own 76.87% of the company’s stock.

MSM opened at $76.95 on Thursday. MSC Industrial Direct Co Inc has a 1-year low of $64.59 and a 1-year high of $86.87. The stock’s fifty day simple moving average is $75.78 and its 200 day simple moving average is $72.45. The company has a current ratio of 2.90, a quick ratio of 1.56 and a debt-to-equity ratio of 0.18. The stock has a market cap of $4.26 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.06 and a beta of 0.94.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.04. MSC Industrial Direct had a return on equity of 19.67% and a net margin of 8.35%. The business had revenue of $823.60 million for the quarter, compared to analysts’ expectations of $820.84 million. During the same quarter in the prior year, the business earned $1.33 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts forecast that MSC Industrial Direct Co Inc will post 4.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, January 21st. MSC Industrial Direct’s dividend payout ratio is 56.71%.

In other MSC Industrial Direct news, CFO Rustom Jilla sold 7,907 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $75.51, for a total value of $597,057.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 58,702 shares of company stock worth $4,467,141. Insiders own 28.75% of the company’s stock.

A number of equities research analysts have recently issued reports on MSM shares. JPMorgan Chase & Co. upped their price objective on MSC Industrial Direct from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Buckingham Research dropped their price objective on MSC Industrial Direct from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Wells Fargo & Co set a $60.00 price objective on MSC Industrial Direct and gave the stock a “sell” rating in a research note on Friday, October 25th. ValuEngine upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stephens set a $76.00 price objective on MSC Industrial Direct and gave the stock a “hold” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $75.56.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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 products, 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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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