Lone Peak Global Investors LLC Trims Stock Position in MSC Industrial Direct Company, Inc. $MSM

Lone Peak Global Investors LLC lessened its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 5.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 161,417 shares of the industrial products company’s stock after selling 9,778 shares during the period. MSC Industrial Direct makes up about 2.6% of Lone Peak Global Investors LLC’s investment portfolio, making the stock its 19th largest position. Lone Peak Global Investors LLC’s holdings in MSC Industrial Direct were worth $19,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in MSM. Elevation Wealth Partners LLC raised its position 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 worth $29,000 after acquiring an additional 116 shares during the period. Parallel Advisors LLC raised its holdings in MSC Industrial Direct by 3.9% in the 1st quarter. Parallel Advisors LLC now owns 3,112 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 118 shares during the period. Allworth Financial LP lifted its position in MSC Industrial Direct by 25.9% during the fourth quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 129 shares in the last quarter. Boothbay Fund Management LLC grew its holdings in MSC Industrial Direct by 6.0% during the fourth quarter. Boothbay Fund Management LLC now owns 2,389 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 136 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in MSC Industrial Direct by 0.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company’s stock worth $3,169,000 after buying an additional 136 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Trading Down 1.1%

Shares of MSM opened at $117.63 on Wednesday. The firm has a market cap of $6.57 billion, a P/E ratio of 28.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72. MSC Industrial Direct Company, Inc. has a 1 year low of $78.80 and a 1 year high of $130.46. The company has a 50 day simple moving average of $122.09 and a two-hundred day simple moving average of $107.90.

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

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a dividend of $0.87 per share. The ex-dividend date was Wednesday, July 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.0%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 84.06%.

Analyst Upgrades and Downgrades

MSM has been the topic of a number of analyst reports. Jefferies Financial Group set a $130.00 price objective on MSC Industrial Direct in a research report on Wednesday, July 1st. Zacks Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Wall Street Zen raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Rothschild & Co Redburn began coverage on shares of MSC Industrial Direct in a research note on Monday, July 13th. They set a “buy” rating and a $155.00 target price on the stock. Finally, KeyCorp increased their price target 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 assigned a Hold rating to the company. According to MarketBeat, MSC Industrial Direct has a consensus rating of “Moderate Buy” and an average target price of $123.43.

MSC Industrial Direct Profile

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.