Fifth Third Bancorp Grows Holdings in MSC Industrial Direct Company, Inc. $MSM

Fifth Third Bancorp grew its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 6,544.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,876 shares of the industrial products company’s stock after purchasing an additional 16,622 shares during the period. Fifth Third Bancorp’s holdings in MSC Industrial Direct were worth $1,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Corp raised its position in shares of MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after buying an additional 201 shares during the last quarter. Hantz Financial Services Inc. boosted its position in MSC Industrial Direct by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 153 shares during the last quarter. Quarry LP boosted its position in MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in MSC Industrial Direct in the 4th quarter worth approximately $48,000. Finally, EverSource Wealth Advisors LLC grew its stake in MSC Industrial Direct by 130.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 326 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MSM has been the subject of several analyst reports. DA Davidson increased their price target on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. KeyCorp lifted their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Wall Street Zen raised MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research upgraded MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Finally, Jefferies Financial Group set a $130.00 price target on MSC Industrial Direct in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.43.

MSC Industrial Direct Stock Down 1.3%

Shares of MSM opened at $125.66 on Friday. The firm has a market cap of $7.02 billion, a PE ratio of 30.35 and a beta of 0.83. The company’s fifty day moving average is $116.73 and its two-hundred day moving average is $101.05. MSC Industrial Direct Company, Inc. has a fifty-two week low of $78.80 and a fifty-two week high of $128.79. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.06.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.15. The company 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 business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 EPS. Analysts forecast that MSC Industrial Direct Company, Inc. will post 4.47 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, July 8th. MSC Industrial Direct’s payout ratio is 84.06%.

MSC Industrial Direct 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.