JPMorgan Chase & Co. Purchases 35,289 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

JPMorgan Chase & Co. increased its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 15.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 258,646 shares of the industrial products company’s stock after buying an additional 35,289 shares during the period. JPMorgan Chase & Co. owned about 0.46% of MSC Industrial Direct worth $22,259,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in MSC Industrial Direct in the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its holdings in shares of MSC Industrial Direct by 442.1% in the third quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 252 shares in the last quarter. Quest Partners LLC increased its position in MSC Industrial Direct by 35,300.0% in the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 353 shares during the last quarter. Quent Capital LLC raised its stake in MSC Industrial Direct by 57.0% during the third quarter. Quent Capital LLC now owns 372 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 135 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in MSC Industrial Direct by 53.0% during the third quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Philip Peller sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total value of $80,163.00. Following the transaction, the director now directly owns 4,044 shares in the company, valued at approximately $360,199.08. This represents a 18.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Erik Gershwind sold 50,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the completion of the sale, the chief executive officer now owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by company insiders.

MSC Industrial Direct Price Performance

Shares of MSM opened at $82.75 on Thursday. The company has a market capitalization of $4.63 billion, a P/E ratio of 18.07 and a beta of 0.91. The business’s 50-day moving average is $82.01 and its two-hundred day moving average is $81.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. MSC Industrial Direct Co., Inc. has a fifty-two week low of $72.79 and a fifty-two week high of $104.76.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 8th. The industrial products company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $928.50 million for the quarter, compared to analysts’ expectations of $904.90 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Research analysts predict that MSC Industrial Direct Co., Inc. will post 3.63 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Wednesday, January 15th. MSC Industrial Direct’s dividend payout ratio is currently 74.24%.

Analysts Set New Price Targets

Several research firms recently commented on MSM. Robert W. Baird lifted their price target on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Stephens lowered MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. cut their target price on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, MSC Industrial Direct has a consensus rating of “Hold” and an average price target of $85.20.

MSC Industrial Direct Company 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.