Trade Report: Today, First Trust Advisors LP Buys 52,086 Shares of MSC Industrial Direct Co. (MSM)

Today, First Trust Advisors LP Buys 52,086 Shares of MSC Industrial Direct Co. (MSM)

First Trust Advisors LP raised its stake in shares of MSC Industrial Direct Co. (NYSE:MSM) by 26.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,103 shares of the company’s stock after buying an additional 52,086 shares during the period. First Trust Advisors LP owned about 0.41% of MSC Industrial Direct worth $18,507,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of MSM. IBM Retirement Fund raised its stake in MSC Industrial Direct by 0.3% in the second quarter. IBM Retirement Fund now owns 4,785 shares of the company’s stock valued at $338,000 after buying an additional 13 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in MSC Industrial Direct by 0.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,895 shares of the company’s stock valued at $487,000 after buying an additional 52 shares in the last quarter. Capstone Asset Management Co. raised its stake in MSC Industrial Direct by 1.2% in the third quarter. Capstone Asset Management Co. now owns 5,213 shares of the company’s stock valued at $383,000 after buying an additional 60 shares in the last quarter. Freestone Capital Holdings LLC raised its stake in MSC Industrial Direct by 0.3% in the second quarter. Freestone Capital Holdings LLC now owns 24,878 shares of the company’s stock valued at $1,755,000 after buying an additional 65 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in MSC Industrial Direct by 2.0% in the second quarter. Raymond James Trust N.A. now owns 3,931 shares of the company’s stock valued at $277,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Shares of MSC Industrial Direct Co. (NYSE:MSM) opened at 89.26 on Friday. The stock has a 50 day moving average of $76.80 and a 200 day moving average of $73.88. The stock has a market capitalization of $5.05 billion, a P/E ratio of 23.67 and a beta of 0.45. MSC Industrial Direct Co. has a 12-month low of $54.19 and a 12-month high of $89.33.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Tuesday, November 1st. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.04. The business earned $745.10 million during the quarter, compared to the consensus estimate of $736.53 million. MSC Industrial Direct had a return on equity of 17.62% and a net margin of 8.07%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. Equities research analysts anticipate that MSC Industrial Direct Co. will post $3.87 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, November 11th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.43. MSC Industrial Direct’s payout ratio is 47.87%.

A number of research analysts have recently issued reports on the stock. Wells Fargo & Co. reaffirmed a “hold” rating on shares of MSC Industrial Direct in a research report on Sunday, September 4th. Credit Suisse Group AG assumed coverage on shares of MSC Industrial Direct in a research report on Friday, August 19th. They issued an “underperform” rating and a $65.00 price objective on the stock. Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Stephens raised shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $102.00 price objective on the stock in a research report on Monday, November 21st. Finally, Macquarie assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, August 25th. They issued a “neutral” rating and a $80.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus target price of $79.11.

In related news, VP Charles Bonomo sold 4,042 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $84.00, for a total value of $339,528.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher Davanzo sold 3,881 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $87.00, for a total transaction of $337,647.00. Following the completion of the transaction, the senior vice president now directly owns 10,386 shares of the company’s stock, valued at approximately $903,582. The disclosure for this sale can be found here. Insiders own 31.75% of the company’s stock.

MSC Industrial Direct Company Profile

Related posts

Leave a Comment