HRT Financial LP Takes $618,000 Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Posted by Defense World Staff on Jun 3rd, 2023

HRT Financial LP acquired a new stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,576 shares of the industrial products company’s stock, valued at approximately $618,000.

Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its position in shares of MSC Industrial Direct by 73.3% during the third quarter. Quadrant Capital Group LLC now owns 350 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 148 shares in the last quarter. Bessemer Group Inc. grew its holdings in MSC Industrial Direct by 1,379.3% during the 3rd quarter. Bessemer Group Inc. now owns 429 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in MSC Industrial Direct in the 4th quarter worth about $52,000. Cary Street Partners Investment Advisory LLC lifted its stake in 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 purchasing an additional 542 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of MSC Industrial Direct by 24.7% during the fourth quarter. Huntington National Bank now owns 687 shares of the industrial products company’s stock valued at $56,000 after buying an additional 136 shares during the period. Institutional investors own 73.89% of the company’s stock.

MSC Industrial Direct Stock Performance

NYSE:MSM opened at $93.54 on Friday. The company’s 50-day moving average is $89.14 and its two-hundred day moving average is $85.23. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 14.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.04 and a quick ratio of 0.88. MSC Industrial Direct Co., Inc. has a 1-year low of $71.32 and a 1-year high of $94.12.

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 the consensus estimate of $1.35 by $0.10. The firm had revenue of $961.60 million for the quarter, compared to analyst estimates of $934.76 million. MSC Industrial Direct had a net margin of 9.34% and a return on equity of 26.66%. MSC Industrial Direct’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. Analysts forecast that MSC Industrial Direct Co., Inc. will post 6.28 EPS for the current year.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 25th. Stockholders of record on Tuesday, April 11th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, April 10th. MSC Industrial Direct’s dividend payout ratio is currently 48.62%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MSM shares. Stephens reissued an “overweight” rating and set a $100.00 price target on shares of MSC Industrial Direct in a research note on Wednesday, April 5th. StockNews.com assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, May 18th. They set a “buy” rating on the stock. KeyCorp boosted their price target on MSC Industrial Direct from $97.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, April 21st. Loop Capital increased their price target on MSC Industrial Direct from $82.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, April 5th. Finally, Robert W. Baird upped their price objective 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, April 5th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.67.

Insiders Place Their Bets

In related news, SVP Kimberly Shacklett sold 6,442 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $90.99, for a total value of $586,157.58. Following the completion of the sale, the senior vice president now directly owns 10,716 shares of the company’s stock, valued at approximately $975,048.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.39% of the stock is owned by company insiders.

MSC Industrial Direct Profile

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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.