Corient Private Wealth LP Buys 12,812 Shares of MSC Industrial Direct Company, Inc. $MSM

Corient Private Wealth LP grew its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 56.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,572 shares of the industrial products company’s stock after purchasing an additional 12,812 shares during the period. Corient Private Wealth LP’s holdings in MSC Industrial Direct were worth $4,231,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MSM. Elevation Wealth Partners LLC increased its position in shares of MSC Industrial Direct by 89.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. First Horizon Corp grew its stake in MSC Industrial Direct by 101.0% during the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock worth $37,000 after buying an additional 201 shares during the last quarter. Hantz Financial Services Inc. grew its stake in MSC Industrial Direct by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock worth $43,000 after buying an additional 153 shares during the last quarter. Quarry LP grew its stake in MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after buying an additional 210 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth approximately $48,000. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MSM shares. Rothschild & Co Redburn started coverage on shares of MSC Industrial Direct in a research note on Monday, July 13th. They issued a “buy” rating and a $155.00 target price for the company. Jefferies Financial Group set a $130.00 price target on MSC Industrial Direct in a research report on Wednesday, July 1st. Weiss Ratings raised MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Wall Street Zen upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, KeyCorp boosted their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.43.

MSC Industrial Direct Trading Down 0.4%

MSM opened at $118.78 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $6.63 billion, a PE ratio of 28.69 and a beta of 0.83. MSC Industrial Direct Company, Inc. has a 1-year low of $78.80 and a 1-year high of $130.46. The firm has a 50-day moving average price of $122.07 and a two-hundred day moving average price of $107.74.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.15. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, July 8th. MSC Industrial Direct’s payout ratio is 84.06%.

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.