The Vanguard Group, Inc. recently announced the acquisition of new stake in MSC Industrial Direct Co., Inc. (NYSE:MSM). The institutional investor has increased its shareholding in the Industrials company by 4.30% to 4.75 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 8.42% valued currently at $481.15 million. In addition, Charles Schwab Investment Managem raised its holdings by 52633.0 to 1.08 million shares. And Geode Capital Management LLC has lifted its position by 14.59% or 0.13 million shares – to 1.0 million shares.
With over 0.47 million MSC Industrial Direct Co., Inc. (MSM) shares trading Friday and a closing price of $95.96 on the day, the dollar volume was approximately $44.92 million. The shares have shown a negative half year performance of -1.59% and its price on 01/12/24 gained nearly 0.75%. Currently, there are 46.84M common shares owned by the public and among those 43.62M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for MSM have a consensus price objective of $107.50. The analysts have set the share’s price value over the next 12 months at a high of $124.00 and a low of $95.00. The average price target is 10.73% above its recent price level and a downside to the estimated low will see the stock lose -1.01% over that period. But an upside of 22.61% will see the stock hit the forecast high price target while median target price for the stock is $106.00.
Insiders at the company have transacted a total of 138 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 99 of these insider trades were purchases, accounting for 9,786,694 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 84,838 shares.
The top 3 mutual fund holders in MSC Industrial Direct Co., Inc. are Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and American Century Mid Cap Value Fu. Vanguard Total Stock Market ETF owns 1.47 million shares of the company’s stock, all valued at over $149.05 million. The company bought an additional 1282.0 shares recently to bring their total holdings to about 2.61% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 1275.0 shares to see its total holdings expand to 1.41 million shares valued at over $142.65 million and representing 2.50% of the shares outstanding. American Century Mid Cap Value Fu sold -0.21 million shares to bring its total holdings to over 1.27 million shares at a value of $128.35 million. American Century Mid Cap Value Fu now owns shares totaling to 2.25% of the shares outstanding.
Shares of MSC Industrial Direct Co., Inc. (NYSE: MSM) opened at $95.82, up $0.57 from a prior closing price of $95.25. The company’s stock has a 5-day price change of 0.06% and -8.62% over the past three months. MSM shares are trading -5.23% year to date (YTD), with the 12-month market performance up to 18.21% higher. It has a 12-month low price of $76.75 and touched a high of $105.77 over the same period. MSM has an average intraday trading volume of 437.98K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.42%, -2.56%, and -0.23% respectively.
Institutional ownership of MSC Industrial Direct Co., Inc. (NYSE: MSM) shares accounts for 79.62% of the company’s 46.84M shares outstanding. Mutual fund holders own 32.74%, while other institutional holders and individual stakeholders account for 47.65% and 13.25% respectively.
It has a market capitalization of $5.41B and a beta (3y monthly) value of 0.94. The stock’s trailing 12-month PE ratio is 16.30, while the earnings-per-share (ttm) stands at $5.89. The company has a PEG of 1.79 and a Quick Ratio of 0.89 with the debt-to-equity ratio at 0.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.93% over the week and 1.67% over the month.
Analysts forecast that MSC Industrial Direct Co., Inc. (MSM) will achieve an EPS of $1.16 for the current quarter, $1.74 for the next quarter and $6.63 for 2025. The lowest estimate earnings-per-share for the quarter is $1.09 while analysts give the company a high EPS estimate of $1.23. Comparatively, EPS for the current quarter was $1.45 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.01%, and 11.33% over the next financial year. EPS should grow at an annualized rate of 9.12% over the next five years, compared to 1.04% over the past 5-year period.
Looking at the support for the MSM, a number of firms have released research notes about the stock. Loop Capital stated their Buy rating for the stock in a research note on October 09, 2023, with the firm’s price target at $96-$124.
