MSC Industrial Direct (NYSE:MSM) Shares Climb 5.3% Following Insider Buying Activity

MSC Industrial Direct Company, Inc. (NYSE:MSM)’s share price rose 5.3% on Monday following insider buying activity. The stock traded as high as $120.14 and last traded at $119.9290. 163,314 shares traded hands during trading, a decline of 78% from the average daily volume of 740,822 shares. The stock had previously closed at $113.86.

Specifically, Director Reuben E. Slone purchased 433 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was bought at an average price of $115.77 per share, for a total transaction of $50,128.41. Following the purchase, the director owned 433 shares of the company’s stock, valued at $50,128.41. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

MSM has been the topic of a number of research reports. KeyCorp lowered their price objective on MSC Industrial Direct from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday. Rothschild & Co Redburn started coverage on shares of MSC Industrial Direct in a research report on Monday, July 13th. They set a “buy” rating and a $155.00 target price for the company. DA Davidson set a $155.00 target price on shares of MSC Industrial Direct in a research note on Tuesday, October 13th. Wolfe Research assumed coverage on shares of MSC Industrial Direct in a research report on Tuesday, September 15th. They issued a “peer perform” rating on the stock. Finally, Stephens raised shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $135.00 in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.22.

MSC Industrial Direct Price Performance

The business’s 50-day moving average price is $123.24 and its 200 day moving average price is $116.69. The stock has a market capitalization of $6.70 billion, a PE ratio of 30.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 1.78.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.04. MSC Industrial Direct had a net margin of 5.55% and a return on equity of 18.72%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Research analysts forecast that MSC Industrial Direct Company, Inc. will post 5.51 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 3.0%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, November 10th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 87.44%.

Institutional Investors Weigh In On MSC Industrial Direct

A number of institutional investors and hedge funds have recently bought and sold shares of MSM. Elevation Wealth Partners LLC lifted its position in MSC Industrial Direct by 89.9% during the second quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at $32,000. Parkside Financial Bank & Trust raised its position in shares of 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 valued at $38,000 after buying an additional 120 shares in the last quarter. First Horizon Corp lifted its holdings in shares of MSC Industrial Direct by 101.0% during the 1st quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 201 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of MSC Industrial Direct during the 3rd quarter worth $75,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc is a distributor of metalworking and maintenance, repair and operations (MRO) supplies. The company serves industrial and institutional customers with products used in machining, manufacturing, facility maintenance and workplace safety.

Its offerings include cutting tools, abrasives, tooling and workholding equipment, machinery, safety products, material-handling supplies, janitorial and facility-maintenance products, and other industrial consumables. MSC also provides technical support, inventory-management programs, vending and other supply-chain services designed to help customers manage procurement and production-related needs.

Founded in 1941, MSC serves customers primarily across the United States and Canada through sales representatives, customer service teams, catalogs, distribution operations and digital commerce platforms.