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

Kingsview Wealth Management LLC bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) during the 3rd quarter, according to the company in 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. Kingsview Wealth Management LLC owned approximately 0.06% of MSC Industrial Direct as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MSM. Arizona State Retirement System boosted its position in MSC Industrial Direct by 1.3% in the third quarter. Arizona State Retirement System now owns 13,180 shares of the industrial products company’s stock valued at $1,214,000 after buying an additional 170 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of MSC Industrial Direct by 1.6% during the third quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the industrial products company’s stock worth $1,170,000 after buying an additional 200 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of MSC Industrial Direct by 52.2% in the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 204 shares during the last quarter. CWM LLC boosted its holdings in shares of MSC Industrial Direct by 8.7% in the 3rd quarter. CWM LLC now owns 2,744 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 220 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in MSC Industrial Direct by 5.5% during the 2nd quarter. Cetera Investment Advisers now owns 4,216 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 221 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MSM. KeyCorp reiterated a “sector weight” rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $95.00 price target on shares of MSC Industrial Direct in a report on Friday, February 6th. Robert W. Baird set a $94.00 price target on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a report on Wednesday, January 28th. Finally, iA Financial set a $95.00 target price on shares of MSC Industrial Direct in a research note on Friday, February 6th. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $90.50.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $91.59 on Thursday. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 25.02 and a beta of 0.81. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $96.99. The company has a quick ratio of 0.82, a current ratio of 1.73 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $88.87 and its 200 day simple moving average is $88.38.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $965.68 million for the quarter, compared to the consensus estimate of $962.52 million. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

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

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.