Advisors Asset Management Inc. Buys 30,797 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Advisors Asset Management Inc. raised its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 180.8% in the 4th quarter, HoldingsChannel reports. The firm owned 47,828 shares of the industrial products company’s stock after purchasing an additional 30,797 shares during the period. Advisors Asset Management Inc.’s holdings in MSC Industrial Direct were worth $3,572,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in MSC Industrial Direct by 53.0% during the third quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 141 shares during the last quarter. Allworth Financial LP raised its stake in shares of MSC Industrial Direct by 412.0% during the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 342 shares in the last quarter. UMB Bank n.a. raised its stake in shares of MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 167 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of MSC Industrial Direct in the 4th quarter valued at $36,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of MSC Industrial Direct by 77.0% in the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 231 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Price Performance

MSM stock opened at $78.21 on Friday. The firm’s 50-day moving average price is $80.40 and its two-hundred day moving average price is $81.46. MSC Industrial Direct Co., Inc. has a 12-month low of $72.79 and a 12-month high of $100.35. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 18.67 and a beta of 0.90. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm had revenue of $928.50 million for the quarter, compared to analysts’ expectations of $904.90 million. During the same quarter in the previous year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on MSM. Wolfe Research assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, January 16th. They set an “outperform” rating and a $95.00 price target for the company. Stephens lowered MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price target on the stock. in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.80.

About MSC Industrial Direct

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, the United Kingdom, and internationally. The company's 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.