MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Bought by Victory Capital Management Inc.

Posted by Defense World Staff on Jul 29th, 2023

Victory Capital Management Inc. grew its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM – Free Report) by 94.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,725 shares of the industrial products company’s stock after purchasing an additional 120,266 shares during the quarter. Victory Capital Management Inc. owned approximately 0.44% of MSC Industrial Direct worth $20,809,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in shares of MSC Industrial Direct by 52.3% in the 4th quarter. Quadrant Capital Group LLC now owns 533 shares of the industrial products company’s stock valued at $44,000 after buying an additional 183 shares in the last quarter. Vigilant Capital Management LLC acquired a new stake in shares of MSC Industrial Direct in the first quarter worth approximately $50,000. IFP Advisors Inc boosted its position in shares of MSC Industrial Direct by 33.6% in the first quarter. IFP Advisors Inc now owns 624 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 157 shares during the last quarter. Huntington National Bank lifted its position in 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 in the last quarter. Finally, Altshuler Shaham Ltd lifted its position in shares of MSC Industrial Direct by 154.8% during the fourth quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 486 shares in the last quarter. 86.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Kimberly Shacklett sold 6,442 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $90.99, for a total transaction 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 $975,048.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 28.39% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of MSM stock opened at $99.89 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.93 and a debt-to-equity ratio of 0.12. MSC Industrial Direct Co., Inc. has a twelve month low of $71.32 and a twelve month high of $100.62. The company has a market cap of $5.60 billion, a P/E ratio of 15.58 and a beta of 1.02. The business has a fifty day simple moving average of $95.74 and a 200 day simple moving average of $88.92.

MSC Industrial Direct (NYSE:MSM – Get Free Report) last issued its earnings results on Thursday, June 29th. The industrial products company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. MSC Industrial Direct had a return on equity of 25.42% and a net margin of 9.00%. MSC Industrial Direct’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.82 EPS. On average, sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 6.29 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Tuesday, July 11th were given a dividend of $0.79 per share. The ex-dividend date was Monday, July 10th. This represents a $3.16 annualized dividend and a dividend yield of 3.16%. MSC Industrial Direct’s payout ratio is 49.30%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of MSC Industrial Direct from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, June 30th. Loop Capital increased their price objective on MSC Industrial Direct from $82.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, April 5th. StockNews.com assumed coverage on MSC Industrial Direct in a research report on Thursday, May 18th. They issued a “buy” rating for the company. KeyCorp increased their price objective on MSC Industrial Direct from $97.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, April 21st. Finally, Stephens restated an “overweight” rating and issued a $100.00 target price on shares of MSC Industrial Direct in a research note on Wednesday, April 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.17.

MSC Industrial Direct Profile

(Free Report)

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, and the United Kingdom. Its 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.