J.W. Cole Advisors Inc. Invests $309,000 in MSC Industrial Direct Co., Inc. (NYSE:MSM)

J.W. Cole Advisors Inc. purchased a new position in MSC Industrial Direct Co., Inc. (NYSE:MSM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,055 shares of the industrial products company’s stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MSM. Global Retirement Partners LLC raised its holdings in shares of MSC Industrial Direct by 9.2% in the third quarter. Global Retirement Partners LLC now owns 1,160 shares of the industrial products company’s stock worth $115,000 after buying an additional 98 shares during the period. Impact Partnership Wealth LLC purchased a new stake in shares of MSC Industrial Direct in the third quarter worth approximately $125,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of MSC Industrial Direct in the third quarter worth approximately $118,000. Measured Wealth Private Client Group LLC increased its holdings in MSC Industrial Direct by 16.3% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 4,664 shares of the industrial products company’s stock worth $458,000 after purchasing an additional 654 shares during the period. Finally, Oak Thistle LLC increased its holdings in MSC Industrial Direct by 235.9% during the 3rd quarter. Oak Thistle LLC now owns 10,352 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 7,270 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Trading Up 0.2 %

Shares of NYSE:MSM opened at $93.40 on Thursday. MSC Industrial Direct Co., Inc. has a 12-month low of $88.14 and a 12-month high of $105.77. The business’s fifty day simple moving average is $97.01 and its 200-day simple moving average is $97.94. The company has a market capitalization of $5.26 billion, a PE ratio of 16.77 and a beta of 0.95. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The business had revenue of $935.30 million for the quarter, compared to the consensus estimate of $946.55 million. During the same period last year, the business posted $1.45 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts predict that MSC Industrial Direct Co., Inc. will post 5.69 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th were issued a $0.83 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.55%. MSC Industrial Direct’s dividend payout ratio is presently 59.61%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. KeyCorp reduced their price objective on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 10th. Stephens restated an “overweight” rating and set a $110.00 price objective on shares of MSC Industrial Direct in a report on Monday, April 1st. Finally, StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

Insider Transactions at MSC Industrial Direct

In other news, Director Mitchell Jacobson sold 137,716 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $97.66, for a total value of $13,449,344.56. Following the completion of the sale, the director now owns 1,708,311 shares of the company’s stock, valued at approximately $166,833,652.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 180,963 shares of company stock valued at $17,712,711 in the last quarter. 18.80% of the stock is currently owned by corporate insiders.

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.