Fort L.P. Takes Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Fort L.P. acquired a new position in MSC Industrial Direct Co., Inc. (NYSE:MSM) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 2,354 shares of the industrial products company’s stock, valued at approximately $203,000.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in MSC Industrial Direct during the 3rd quarter worth $26,000. UMB Bank n.a. boosted its stake in MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 252 shares during the last quarter. Blue Trust Inc. grew its holdings in MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 297 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of MSC Industrial Direct in the 2nd quarter worth about $26,000. Finally, Quest Partners LLC raised its stake in shares of MSC Industrial Direct by 35,300.0% in the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 353 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Up 2.1 %

Shares of MSC Industrial Direct stock traded up $1.63 during trading on Friday, hitting $80.70. 516,338 shares of the stock traded hands, compared to its average volume of 714,212. The company has a fifty day moving average price of $81.93 and a two-hundred day moving average price of $83.94. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $104.76. The stock has a market cap of $4.51 billion, a P/E ratio of 17.62 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The company had revenue of $952.30 million for the quarter, compared to the consensus estimate of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. MSC Industrial Direct’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $1.64 earnings per share. Equities research analysts predict that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.21%. MSC Industrial Direct’s payout ratio is 72.49%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MSM. JPMorgan Chase & Co. cut their price objective on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird raised their price target on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.20.

MSC Industrial Direct 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.