Maverick Capital Ltd. Invests $1.04 Million in MSC Industrial Direct Company, Inc. $MSM

Maverick Capital Ltd. bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,251 shares of the industrial products company’s stock, valued at approximately $1,038,000.

Several other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in MSC Industrial Direct by 3.9% in the first quarter. Parallel Advisors LLC now owns 3,112 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 118 shares during the period. Allworth Financial LP lifted its position in MSC Industrial Direct by 25.9% during the fourth quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock valued at $53,000 after buying an additional 129 shares during the period. Boothbay Fund Management LLC boosted its holdings in shares of MSC Industrial Direct by 6.0% during the 4th quarter. Boothbay Fund Management LLC now owns 2,389 shares of the industrial products company’s stock valued at $201,000 after buying an additional 136 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings 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 valued at $3,169,000 after buying an additional 136 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of MSC Industrial Direct by 22.1% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the industrial products company’s stock worth $65,000 after buying an additional 141 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Rothschild & Co Redburn initiated coverage on shares of MSC Industrial Direct in a research note on Monday, July 13th. They set a “buy” rating and a $155.00 price objective on the stock. Wall Street Zen upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. KeyCorp lifted their target price on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Finally, DA Davidson boosted their price target on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.43.

MSC Industrial Direct Stock Down 1.6%

Shares of MSC Industrial Direct stock opened at $124.59 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The stock has a market capitalization of $6.96 billion, a PE ratio of 30.09 and a beta of 0.83. MSC Industrial Direct Company, Inc. has a 52-week low of $78.80 and a 52-week high of $128.79. The company has a 50-day simple moving average of $118.01 and a two-hundred day simple moving average of $101.92.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.15. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.47 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were issued a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 84.06%.

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.