CIBC Private Wealth Group LLC Decreases Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

CIBC Private Wealth Group LLC trimmed its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 25.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,315 shares of the industrial products company’s stock after selling 459 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in MSC Industrial Direct were worth $109,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in MSC Industrial Direct by 412.0% in the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 342 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of MSC Industrial Direct by 54.0% in the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock worth $36,000 after buying an additional 167 shares during the period. Synergy Asset Management LLC purchased a new position in shares of MSC Industrial Direct in the fourth quarter worth about $36,000. V Square Quantitative Management LLC boosted its holdings in MSC Industrial Direct by 77.0% during the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 231 shares during the period. Finally, Sunbelt Securities Inc. grew its position in MSC Industrial Direct by 38.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 962 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Loop Capital lowered their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research report on Friday. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Wolfe Research assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, January 16th. They set an “outperform” rating and a $95.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $82.20.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock opened at $70.13 on Tuesday. The business has a 50 day moving average of $79.24 and a 200 day moving average of $81.23. MSC Industrial Direct Co., Inc. has a 52 week low of $68.10 and a 52 week high of $95.88. The company has a market cap of $3.92 billion, a PE ratio of 16.74 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The business had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. During the same period in the prior year, the business earned $1.18 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.85%. MSC Industrial Direct’s payout ratio is 89.71%.

MSC Industrial Direct Company 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.