Kingsview Wealth Management LLC Makes New $3.08 Million Investment in MSC Industrial Direct Company, Inc. $MSM

Kingsview Wealth Management LLC bought a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 33,424 shares of the industrial products company’s stock, valued at approximately $3,080,000.

A number of other hedge funds have also modified their holdings of MSM. American Century Companies Inc. boosted its stake in MSC Industrial Direct by 2.5% during the 2nd quarter. American Century Companies Inc. now owns 3,743,021 shares of the industrial products company’s stock worth $318,232,000 after acquiring an additional 92,800 shares during the last quarter. Mackenzie Financial Corp raised its holdings in MSC Industrial Direct by 0.5% in the second quarter. Mackenzie Financial Corp now owns 508,514 shares of the industrial products company’s stock worth $43,234,000 after purchasing an additional 2,554 shares during the period. Norges Bank bought a new position in shares of MSC Industrial Direct during the second quarter worth $39,950,000. Alliancebernstein L.P. grew its holdings in shares of MSC Industrial Direct by 21.5% in the 2nd quarter. Alliancebernstein L.P. now owns 362,768 shares of the industrial products company’s stock valued at $30,843,000 after buying an additional 64,171 shares during the period. Finally, SG Capital Management LLC increased its position in shares of MSC Industrial Direct by 867.0% in the 3rd quarter. SG Capital Management LLC now owns 360,988 shares of the industrial products company’s stock valued at $33,261,000 after buying an additional 323,659 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Trading Down 1.4%

NYSE:MSM opened at $91.59 on Thursday. The company has a market cap of $5.11 billion, a P/E ratio of 25.02 and a beta of 0.81. MSC Industrial Direct Company, Inc. has a twelve month low of $68.10 and a twelve month high of $96.99. The business has a 50 day moving average price of $88.87 and a two-hundred day moving average price of $88.38. The company has a quick ratio of 0.82, a current ratio of 1.73 and a debt-to-equity ratio of 0.15.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, January 7th. The industrial products company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. MSC Industrial Direct had a net margin of 5.37% and a return on equity of 15.73%. The business had revenue of $965.68 million for the quarter, compared to analyst estimates of $962.52 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $3.48 annualized dividend and a yield of 3.8%. MSC Industrial Direct’s payout ratio is 95.08%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MSM. Wall Street Zen cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. iA Financial set a $95.00 target price on MSC Industrial Direct in a research note on Friday, February 6th. Zacks Research lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $85.00 price target on shares of MSC Industrial Direct in a report on Thursday, January 8th. Finally, Robert W. Baird set a $94.00 price objective on shares of MSC Industrial Direct in a report on Thursday, January 8th. Nine investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, MSC Industrial Direct currently has an average rating of “Hold” and an average target price of $90.50.

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.