Royal Bank of Canada Has $5.08 Million Stock Position in MSC Industrial Direct Company, Inc. $MSM

Royal Bank of Canada boosted its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 13.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,066 shares of the industrial products company’s stock after buying an additional 6,483 shares during the quarter. Royal Bank of Canada owned approximately 0.10% of MSC Industrial Direct worth $5,080,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in MSC Industrial Direct by 3.9% during the first quarter. Parallel Advisors LLC now owns 3,112 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 118 shares during the period. Allworth Financial LP increased its stake in shares of MSC Industrial Direct by 25.9% in the fourth quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 129 shares during the period. Boothbay Fund Management LLC increased its stake in shares of MSC Industrial Direct by 6.0% in the fourth quarter. Boothbay Fund Management LLC now owns 2,389 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 136 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of MSC Industrial Direct by 0.4% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company’s stock worth $3,169,000 after purchasing an additional 136 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of MSC Industrial Direct by 0.3% during the 4th quarter. HighTower Advisors LLC now owns 50,418 shares of the industrial products company’s stock worth $4,240,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock opened at $119.31 on Thursday. The firm has a market cap of $6.66 billion, a P/E ratio of 28.82 and a beta of 0.83. The firm’s 50-day simple moving average is $120.94 and its 200-day simple moving average is $104.85. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $130.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. As a group, research analysts expect that MSC Industrial Direct Company, Inc. will post 4.49 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is 84.06%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MSM shares. Wall Street Zen raised MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings upgraded MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Jefferies Financial Group set a $130.00 price objective on MSC Industrial Direct in a research report on Wednesday, July 1st. KeyCorp boosted their target price on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Finally, Zacks Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.43.

MSC Industrial Direct Company Profile

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.