Centric Wealth Management Raises Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Centric Wealth Management grew its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,723 shares of the industrial products company’s stock after buying an additional 2,172 shares during the quarter. Centric Wealth Management’s holdings in MSC Industrial Direct were worth $1,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MSM. Duality Advisers LP bought a new stake in shares of MSC Industrial Direct in the 4th quarter worth $1,668,000. Meritage Portfolio Management raised its position in MSC Industrial Direct by 40.3% in the 4th quarter. Meritage Portfolio Management now owns 42,097 shares of the industrial products company’s stock worth $4,263,000 after buying an additional 12,088 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in MSC Industrial Direct during the 4th quarter valued at about $1,316,000. Invesco Ltd. boosted its holdings in shares of MSC Industrial Direct by 39.9% during the 3rd quarter. Invesco Ltd. now owns 462,756 shares of the industrial products company’s stock valued at $45,420,000 after acquiring an additional 131,943 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of MSC Industrial Direct by 15.4% in the third quarter. Envestnet Asset Management Inc. now owns 139,088 shares of the industrial products company’s stock worth $13,651,000 after acquiring an additional 18,559 shares during the period. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of MSM stock traded down $0.22 during mid-day trading on Wednesday, reaching $91.80. 170,197 shares of the company’s stock traded hands, compared to its average volume of 464,329. MSC Industrial Direct Co., Inc. has a 12 month low of $88.98 and a 12 month high of $105.77. The firm has a 50 day moving average price of $95.49 and a two-hundred day moving average price of $97.25. The firm has a market capitalization of $5.17 billion, a PE ratio of 16.52 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Thursday, March 28th. The industrial products company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The business had revenue of $935.30 million during the quarter, compared to analysts’ expectations of $946.55 million. During the same quarter in the prior year, the business posted $1.45 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts forecast that MSC Industrial Direct Co., Inc. will post 5.69 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Monday, April 8th. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Stephens restated an “overweight” rating and issued a $110.00 price target on shares of MSC Industrial Direct in a research note on Monday, April 1st. Finally, KeyCorp reduced their price objective on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.00.

MSC Industrial Direct Profile

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.