MSC Industrial Direct Company, Inc. $MSM Stock: WealthPlan Investment Management LLC Reduces Position

WealthPlan Investment Management LLC lessened its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 19.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,638 shares of the industrial products company’s stock after selling 7,961 shares during the period. WealthPlan Investment Management LLC’s holdings in MSC Industrial Direct were worth $4,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC raised its holdings in MSC Industrial Direct by 89.9% in the second quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Parallel Advisors LLC boosted its stake in MSC Industrial Direct by 3.9% during the 1st quarter. Parallel Advisors LLC now owns 3,112 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 118 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in MSC Industrial Direct by 60.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 319 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 120 shares in the last quarter. GAMMA Investing LLC grew its holdings in MSC Industrial Direct by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,534 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 144 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in MSC Industrial Direct by 9.5% during the 2nd quarter. Versant Capital Management Inc now owns 2,247 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Key Headlines Impacting MSC Industrial Direct

Here are the key news stories impacting MSC Industrial Direct this week:

• Positive Sentiment: Dividend increased: MSC Industrial raised its quarterly dividend 2.3% to $0.89 per share, or $3.56 annually, supporting a 2.7% yield and signaling confidence in cash generation. The dividend is payable November 25 to shareholders of record November 11. MSC Industrial Supply Co. Declares Increase in Regular Quarterly Dividend
• Positive Sentiment: Analyst upgrade in coverage: Barclays initiated coverage with an “overweight” rating and a $152 price target, implying meaningful upside from recent trading levels and adding a positive Wall Street view. Barclays initiates coverage
• Positive Sentiment: Earnings expectations are favorable: Zacks says MSC Industrial has factors that could support an earnings beat, while Wall Street expects year-over-year earnings growth in the report scheduled for next week. MSC Industrial Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Near-term event risk remains: MSC Industrial is expected to report quarterly results Thursday next week. The report could provide a catalyst if growth and guidance exceed expectations, but disappointment could pressure the shares given the elevated focus on earnings. MSC Industrial Projected to Post Quarterly Earnings

MSC Industrial Direct Stock Performance

Shares of MSM stock traded down $2.18 on Thursday, hitting $130.40. 244,900 shares of the stock traded hands, compared to its average volume of 721,644. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72. The company has a market capitalization of $7.28 billion, a PE ratio of 31.50 and a beta of 0.82. MSC Industrial Direct Company, Inc. has a 1-year low of $78.80 and a 1-year high of $133.65. The company’s fifty day moving average is $122.77 and its 200 day moving average is $114.98.

MSC Industrial Direct Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.89 per share. The ex-dividend date is Tuesday, November 10th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a yield of 2.7%. MSC Industrial Direct’s payout ratio is presently 84.06%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays assumed coverage on shares of MSC Industrial Direct in a research report on Tuesday. They issued an “overweight” rating and a $152.00 target price for the company. Weiss Ratings raised shares of MSC Industrial Direct from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Rothschild & Co Redburn began coverage on MSC Industrial Direct in a research note on Monday, July 13th. They issued a “buy” rating and a $155.00 price target for the company. DA Davidson set a $155.00 price target on MSC Industrial Direct in a research note on Tuesday. Finally, KeyCorp boosted their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.62.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.