Crossmark Global Holdings Inc. Purchases 152 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Posted by Defense World Staff on Apr 7th, 2023

Crossmark Global Holdings Inc. boosted its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,112 shares of the industrial products company’s stock after purchasing an additional 152 shares during the period. Crossmark Global Holdings Inc.’s holdings in MSC Industrial Direct were worth $335,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in shares of MSC Industrial Direct by 73.3% in the third quarter. Quadrant Capital Group LLC now owns 350 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 148 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of MSC Industrial Direct by 1,379.3% in the third quarter. Bessemer Group Inc. now owns 429 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 400 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of MSC Industrial Direct in the fourth quarter worth about $52,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of MSC Industrial Direct by 271.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 742 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 542 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its stake in shares of MSC Industrial Direct by 22.0% in the fourth quarter. AdvisorNet Financial Inc now owns 1,165 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 210 shares during the last quarter. 73.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of MSC Industrial Direct from $95.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $100.00 target price on shares of MSC Industrial Direct in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of MSC Industrial Direct from $80.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com upgraded shares of MSC Industrial Direct from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, KeyCorp lifted their price target on shares of MSC Industrial Direct from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.33.

Insider Activity at MSC Industrial Direct

In related news, EVP Douglas E. Jones sold 885 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $88.00, for a total transaction of $77,880.00. Following the completion of the transaction, the executive vice president now owns 4,938 shares in the company, valued at $434,544. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Douglas E. Jones sold 885 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $88.00, for a total value of $77,880.00. Following the completion of the transaction, the executive vice president now owns 4,938 shares in the company, valued at $434,544. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas E. Jones sold 23,918 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $89.92, for a total transaction of $2,150,706.56. Following the completion of the transaction, the executive vice president now owns 5,823 shares of the company’s stock, valued at approximately $523,604.16. The disclosure for this sale can be found here. Corporate insiders own 28.39% of the company’s stock.

MSC Industrial Direct Stock Down 0.1 %

Shares of NYSE MSM opened at $84.49 on Friday. The stock has a market cap of $4.72 billion, a P/E ratio of 13.33, a P/E/G ratio of 2.78 and a beta of 1.03. The firm has a 50 day moving average price of $84.13 and a 200 day moving average price of $81.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 2.14. MSC Industrial Direct Co., Inc. has a 52-week low of $71.32 and a 52-week high of $90.04.

MSC Industrial Direct (NYSE:MSM – Get Rating) last issued its quarterly earnings data on Tuesday, April 4th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $961.60 million during the quarter, compared to analysts’ expectations of $934.76 million. MSC Industrial Direct had a net margin of 9.34% and a return on equity of 26.97%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. Analysts expect that MSC Industrial Direct Co., Inc. will post 6.07 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, April 11th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, April 10th. MSC Industrial Direct’s dividend payout ratio is currently 49.84%.

About MSC Industrial Direct

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MSC Industrial Direct Co, Inc engages in the distribution of metalworking and maintenance, repair, and operations products and services. Its products include cutting tools, measuring instruments, tooling components, metalworking, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.