WealthPlan Investment Management LLC Sells 59,407 Shares of MSC Industrial Direct Company, Inc. $MSM

WealthPlan Investment Management LLC lowered its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 43.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 76,306 shares of the industrial products company’s stock after selling 59,407 shares during the period. WealthPlan Investment Management LLC owned about 0.14% of MSC Industrial Direct worth $6,417,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MSM. Royal Bank of Canada raised its stake in shares of MSC Industrial Direct by 4.8% during the first quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock valued at $3,650,000 after acquiring an additional 2,164 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of MSC Industrial Direct during the first quarter valued at $455,000. NewEdge Advisors LLC raised its stake in shares of MSC Industrial Direct by 79.9% during the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 333 shares during the last quarter. United Services Automobile Association bought a new position in shares of MSC Industrial Direct during the first quarter valued at $229,000. Finally, Empowered Funds LLC bought a new position in shares of MSC Industrial Direct during the first quarter valued at $816,000. Institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MSM shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $95.00 price target on shares of MSC Industrial Direct in a research note on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a report on Monday, April 27th. Wall Street Zen lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. iA Financial set a $95.00 price target on shares of MSC Industrial Direct in a report on Friday, February 6th. Finally, KeyCorp upgraded shares of MSC Industrial Direct from a “sector weight” rating to an “overweight” rating and set a $117.00 price target for the company in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $94.29.

MSC Industrial Direct Stock Down 2.0%

MSC Industrial Direct stock opened at $104.66 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 1.73. MSC Industrial Direct Company, Inc. has a 52-week low of $77.78 and a 52-week high of $108.77. The firm has a 50 day moving average price of $95.49 and a two-hundred day moving average price of $90.35. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 28.13 and a beta of 0.83.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.The firm had revenue of $917.77 million for the quarter, compared to the consensus estimate of $931.69 million. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts predict that MSC Industrial Direct Company, Inc. will post 4.34 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $3.48 annualized dividend and a dividend yield of 3.3%. MSC Industrial Direct’s dividend payout ratio (DPR) is 93.55%.

About MSC Industrial Direct

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.