JPMorgan Chase & Co. Purchases 38,088 Shares of MSC Industrial Direct Company, Inc. $MSM

JPMorgan Chase & Co. lifted its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 15.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 288,489 shares of the industrial products company’s stock after buying an additional 38,088 shares during the period. JPMorgan Chase & Co.’s holdings in MSC Industrial Direct were worth $26,581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC purchased a new position in MSC Industrial Direct in the 3rd quarter worth approximately $31,000. Hantz Financial Services Inc. increased its holdings in shares of MSC Industrial Direct by 257.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 260 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of MSC Industrial Direct by 130.4% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 326 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of MSC Industrial Direct by 52.2% during the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 204 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of MSC Industrial Direct by 79.9% during the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after buying an additional 333 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock opened at $93.88 on Friday. The stock has a market cap of $5.24 billion, a P/E ratio of 25.65 and a beta of 0.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.73. The stock’s fifty day moving average is $88.52 and its 200 day moving average is $88.28. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $96.99.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, January 7th. The industrial products company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The business had revenue of $965.68 million during the quarter, compared to analysts’ expectations of $962.52 million. During the same quarter in the prior year, the business posted $0.86 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were paid a dividend of $0.87 per share. The ex-dividend date was Wednesday, January 14th. This represents a $3.48 dividend on an annualized basis and a yield of 3.7%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 95.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MSM shares. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Wednesday, January 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $95.00 price objective on shares of MSC Industrial Direct in a report on Friday, February 6th. Wall Street Zen cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Finally, iA Financial set a $95.00 price target on MSC Industrial Direct in a report on Friday, February 6th. Nine analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.50.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.