Diversified Trust Co lessened its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 54.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,664 shares of the industrial products company's stock after selling 4,334 shares during the period. Diversified Trust Co's holdings in MSC Industrial Direct were worth $275,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of MSM. BlackRock Inc. raised its stake in MSC Industrial Direct by 34.8% during the first quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company's stock worth $467,024,000 after buying an additional 1,414,485 shares during the last quarter. American Century Companies Inc. grew its holdings in MSC Industrial Direct by 11.7% in the first quarter. American Century Companies Inc. now owns 3,503,731 shares of the industrial products company's stock worth $298,553,000 after purchasing an additional 368,106 shares during the period. 59 North Capital Management LP acquired a new stake in MSC Industrial Direct in the first quarter worth $23,130,000. Geode Capital Management LLC grew its holdings in MSC Industrial Direct by 26.7% in the fourth quarter. Geode Capital Management LLC now owns 789,186 shares of the industrial products company's stock worth $66,338,000 after purchasing an additional 166,064 shares during the period. Finally, SG Americas Securities LLC grew its holdings in MSC Industrial Direct by 345.6% in the first quarter. SG Americas Securities LLC now owns 155,168 shares of the industrial products company's stock worth $13,222,000 after purchasing an additional 120,344 shares during the period. Institutional investors own 76.00% of the company's stock.
Get MSC Industrial Direct alerts:Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Robert W. Baird reduced their price target on shares of MSC Industrial Direct from $105.00 to $100.00 and set an "outperform" rating for the company in a report on Thursday, June 30th. Stephens reduced their price target on shares of MSC Industrial Direct to $100.00 in a report on Monday, July 4th. Finally, William Blair cut shares of MSC Industrial Direct from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 29th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, MSC Industrial Direct currently has a consensus rating of "Moderate Buy" and an average target price of $98.25.
MSC Industrial Direct Stock Down 2.1 %
Shares of NYSE MSM opened at $72.11 on Friday. The stock has a market capitalization of $4.04 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.39 and a beta of 1.04. The company has a 50-day moving average price of $80.37 and a 200-day moving average price of $80.68. MSC Industrial Direct Co., Inc. has a 1 year low of $71.33 and a 1 year high of $87.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.37 and a quick ratio of 1.27.MSC Industrial Direct (NYSE:MSM – Get Rating) last issued its quarterly earnings data on Wednesday, June 29th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.07. The firm had revenue of $958.60 million during the quarter, compared to analysts' expectations of $962.54 million. MSC Industrial Direct had a net margin of 8.62% and a return on equity of 25.72%. The business's revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $1.42 earnings per share. On average, equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 6.14 EPS for the current fiscal year.
Insider Buying and Selling
In related news, SVP Kimberly Shacklett sold 8,057 shares of the business's stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $85.00, for a total transaction of $684,845.00. Following the transaction, the senior vice president now directly owns 9,000 shares in the company, valued at $765,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Mitchell Jacobson purchased 200,000 shares of the business's stock in a transaction that occurred on Wednesday, July 13th. The shares were acquired at an average cost of $72.25 per share, for a total transaction of $14,450,000.00. Following the completion of the acquisition, the director now owns 272,450 shares in the company, valued at $19,684,512.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kimberly Shacklett sold 8,057 shares of MSC Industrial Direct stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $85.00, for a total transaction of $684,845.00. Following the completion of the sale, the senior vice president now directly owns 9,000 shares in the company, valued at approximately $765,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,059 shares of company stock worth $3,052,688. 28.28% of the stock is owned by insiders.
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.
Further Reading
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