Valley National Advisers Inc. cut its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,548 shares of the industrial products company's stock after selling 191 shares during the period. Valley National Advisers Inc. owned 0.08% of MSC Industrial Direct worth $3,169,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the business. Ellevest Inc. grew its position in MSC Industrial Direct by 588.2% during the first quarter. Ellevest Inc. now owns 351 shares of the industrial products company's stock worth $30,000 after buying an additional 300 shares in the last quarter. Allworth Financial LP acquired a new stake in MSC Industrial Direct during the second quarter worth about $38,000. James Reed Financial Services Inc. acquired a new stake in MSC Industrial Direct during the fourth quarter worth about $81,000. Bank of New Hampshire acquired a new stake in MSC Industrial Direct during the first quarter worth about $82,000. Finally, Point72 Hong Kong Ltd grew its position in MSC Industrial Direct by 224.5% during the first quarter. Point72 Hong Kong Ltd now owns 1,441 shares of the industrial products company's stock worth $123,000 after buying an additional 997 shares in the last quarter. 76.00% of the stock is currently owned by institutional investors.
Get MSC Industrial Direct alerts:MSC Industrial Direct Price Performance
NYSE MSM traded down $1.92 during trading on Friday, reaching $71.77. 11,462 shares of the company traded hands, compared to its average volume of 273,260. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.27 and a current ratio of 2.37. The stock's 50 day moving average price is $80.43 and its two-hundred day moving average price is $80.73. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 2.39 and a beta of 1.04. MSC Industrial Direct Co., Inc. has a 1-year low of $71.69 and a 1-year high of $87.99.
MSC Industrial Direct (NYSE:MSM – Get Rating) last announced its earnings results on Wednesday, June 29th. The industrial products company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.75 by $0.07. The business had revenue of $958.60 million for the quarter, compared to the consensus estimate 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 revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. As a group, analysts anticipate that MSC Industrial Direct Co., Inc. will post 6.14 EPS for the current year.Insider Transactions at MSC Industrial Direct
In other MSC Industrial Direct news, Director Mitchell Jacobson bought 200,000 shares of MSC Industrial Direct stock in a transaction dated Wednesday, July 13th. The shares were acquired at an average cost of $72.25 per share, with a total value of $14,450,000.00. Following the acquisition, the director now directly owns 272,450 shares of the company's stock, valued at $19,684,512.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other MSC Industrial Direct news, Director Mitchell Jacobson bought 200,000 shares of MSC Industrial Direct stock in a transaction dated Wednesday, July 13th. The shares were acquired at an average cost of $72.25 per share, with a total value of $14,450,000.00. Following the acquisition, the director now directly owns 272,450 shares of the company's stock, valued at $19,684,512.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Elizabeth Bledsoe sold 4,701 shares of the business's stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $74.53, for a total transaction of $350,365.53. Following the completion of the transaction, the senior vice president now owns 1,816 shares of the company's stock, valued at approximately $135,346.48. The disclosure for this sale can be found here. Insiders have sold 37,059 shares of company stock valued at $3,052,688 in the last three months. 28.28% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
MSM has been the topic of a number of recent research reports. Robert W. Baird decreased their target price 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. William Blair downgraded MSC Industrial Direct from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 29th. Finally, Stephens decreased their price objective on MSC Industrial Direct to $100.00 in a report on Monday, July 4th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $98.25.
About MSC Industrial Direct
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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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