Exane Derivatives trimmed its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,308 shares of the industrial products company's stock after selling 210 shares during the period. Exane Derivatives' holdings in MSC Industrial Direct were worth $173,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund raised its stake in shares of MSC Industrial Direct by 0.3% in the 1st quarter. New York State Common Retirement Fund now owns 103,024 shares of the industrial products company's stock valued at $8,779,000 after acquiring an additional 352 shares in the last quarter. Treasurer of the State of North Carolina increased its position in MSC Industrial Direct by 1.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 16,527 shares of the industrial products company's stock worth $1,408,000 after buying an additional 258 shares during the period. DekaBank Deutsche Girozentrale increased its position in MSC Industrial Direct by 64.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,285 shares of the industrial products company's stock worth $1,141,000 after buying an additional 5,216 shares during the period. Sciencast Management LP bought a new position in MSC Industrial Direct in the 1st quarter worth approximately $1,102,000. Finally, Bank of New Hampshire increased its position in MSC Industrial Direct by 86.8% in the 2nd quarter. Bank of New Hampshire now owns 1,797 shares of the industrial products company's stock worth $135,000 after buying an additional 835 shares during the period. 76.00% of the stock is owned by institutional investors.
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MSC Industrial Direct Stock Performance
MSM opened at $75.72 on Wednesday. The stock has a market cap of $4.24 billion, a PE ratio of 14.05, a P/E/G ratio of 2.42 and a beta of 1.04. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.41. MSC Industrial Direct Co., Inc. has a 1 year low of $71.69 and a 1 year high of $87.99. The stock's 50 day simple moving average is $80.39 and its 200-day simple moving average is $80.80.
MSC Industrial Direct (NYSE:MSM – Get Rating) last announced its quarterly earnings results on Wednesday, June 29th. The industrial products company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.75 by $0.07. The business had revenue of $958.60 million for the quarter, compared to analyst estimates of $962.54 million. MSC Industrial Direct had a return on equity of 25.72% and a net
margin of 8.62%. MSC Industrial Direct's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 EPS. Sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 6.14 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have commented on MSM. William Blair downgraded MSC Industrial Direct from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 29th. Robert W. Baird dropped their price target on MSC Industrial Direct from $105.00 to $100.00 and set an "outperform" rating on the stock in a research report on Thursday, June 30th. Finally, Stephens dropped their price target on MSC Industrial Direct to $100.00 in a research report on Monday, July 4th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.25.
Insider Activity at MSC Industrial Direct
In related news, SVP Elizabeth Bledsoe sold 4,701 shares of the business's stock in a transaction on Friday, July 1st. The stock was sold at an average price of $74.53, for a total value of $350,365.53. Following the sale, the senior vice president now owns 1,816 shares of the company's stock, valued at approximately $135,346.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Elizabeth Bledsoe sold 4,701 shares of the business's stock in a transaction on Friday, July 1st. The stock was sold at an average price of $74.53, for a total value of $350,365.53. Following the sale, the senior vice president now owns 1,816 shares of the company's stock, valued at approximately $135,346.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mitchell Jacobson acquired 200,000 shares of MSC Industrial Direct stock in a transaction on Wednesday, July 13th. The stock was acquired at an average cost of $72.25 per share, for a total transaction of $14,450,000.00. Following the purchase, the director now owns 272,450 shares of the company's stock, valued at approximately $19,684,512.50. The disclosure for this purchase can be found here. Insiders have sold a total of 37,059 shares of company stock valued at $3,052,688 in the last 90 days. 28.28% of the stock is owned by corporate insiders.
MSC Industrial Direct Company Profile
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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, and the United Kingdom. Its 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.
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