Icon Advisers Inc. Co. Makes New Investment in MSC Industrial Direct Company, Inc. $MSM

Icon Advisers Inc. Co. purchased a new position in MSC Industrial Direct Company, Inc. (NYSE:MSM) during the first quarter, HoldingsChannel.com reports. The fund purchased 46,380 shares of the industrial products company’s stock, valued at approximately $4,279,000. MSC Industrial Direct makes up about 1.0% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 29th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Corp grew its position in shares of MSC Industrial Direct by 101.0% during the 1st 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. Quarry LP lifted its holdings in MSC Industrial Direct by 71.7% in 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. Hantz Financial Services Inc. lifted its holdings in MSC Industrial Direct by 42.4% in 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. Kestra Advisory Services LLC acquired a new position in MSC Industrial Direct in the fourth quarter valued at approximately $48,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of MSC Industrial Direct by 130.4% during the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 326 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $127.18 on Thursday. MSC Industrial Direct Company, Inc. has a 12-month low of $78.80 and a 12-month high of $127.55. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 30.72 and a beta of 0.83. The business has a 50 day simple moving average of $116.36 and a 200 day simple moving average of $100.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72.

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

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is 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.