Beverly Hills Private Wealth LLC Boosts Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Beverly Hills Private Wealth LLC grew its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 103.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,990 shares of the industrial products company’s stock after acquiring an additional 3,551 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in MSC Industrial Direct were worth $692,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers boosted its position in shares of MSC Industrial Direct by 36.5% during the second quarter. Cetera Investment Advisers now owns 3,639 shares of the industrial products company’s stock valued at $347,000 after buying an additional 973 shares during the period. Burney Co. purchased a new position in MSC Industrial Direct during the 2nd quarter valued at $205,000. Dimensional Fund Advisors LP grew its position in MSC Industrial Direct by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 743,539 shares of the industrial products company’s stock valued at $70,843,000 after acquiring an additional 20,344 shares during the last quarter. Institutional & Family Asset Management LLC purchased a new stake in MSC Industrial Direct in the second quarter worth $32,000. Finally, Swiss National Bank lifted its position in shares of MSC Industrial Direct by 0.9% during the second quarter. Swiss National Bank now owns 102,800 shares of the industrial products company’s stock worth $9,795,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 89.51% of the company’s stock.

Insider Activity

In related news, CEO Erik Gershwind sold 13,599 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $97.91, for a total transaction of $1,331,478.09. Following the completion of the transaction, the chief executive officer now owns 1,339,052 shares in the company, valued at approximately $131,106,581.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 28.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MSM. StockNews.com started coverage on shares of MSC Industrial Direct in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Loop Capital raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and lifted their price target for the company from $96.00 to $124.00 in a research note on Monday, October 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.60.

MSC Industrial Direct Trading Down 1.4 %

NYSE:MSM opened at $99.28 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 2.03. The firm has a 50-day simple moving average of $97.59 and a 200-day simple moving average of $96.94. MSC Industrial Direct Co., Inc. has a one year low of $76.75 and a one year high of $105.77. The firm has a market cap of $5.68 billion, a P/E ratio of 16.25 and a beta of 1.02.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. MSC Industrial Direct had a return on equity of 24.29% and a net margin of 8.56%. MSC Industrial Direct’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.79 earnings per share. Equities analysts anticipate that MSC Industrial Direct Co., Inc. will post 6.18 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.34%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, November 13th. MSC Industrial Direct’s dividend payout ratio is presently 54.34%.

MSC Industrial Direct Profile

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.