ProShare Advisors LLC Cuts Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

ProShare Advisors LLC reduced its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) by 98.5% in the first quarter, Holdings Channel reports. The fund owned 3,815 shares of the industrial products company’s stock after selling 255,056 shares during the quarter. ProShare Advisors LLC’s holdings in MSC Industrial Direct were worth $325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ellevest Inc. raised its stake in MSC Industrial Direct by 588.2% during the first quarter. Ellevest Inc. now owns 351 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in shares of MSC Industrial Direct in the 4th quarter worth about $42,000. James Reed Financial Services Inc. purchased a new stake in shares of MSC Industrial Direct during the 4th quarter valued at about $81,000. Bank of New Hampshire bought a new position in shares of MSC Industrial Direct in the 1st quarter valued at about $82,000. Finally, Covestor Ltd purchased a new position in MSC Industrial Direct in the fourth quarter worth about $84,000. 76.00% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Trading Down 0.7 %

Shares of NYSE MSM opened at $78.58 on Tuesday. MSC Industrial Direct Co., Inc. has a fifty-two week low of $71.69 and a fifty-two week high of $87.99. 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 company has a market cap of $4.40 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 2.49 and a beta of 1.04. The business’s 50 day moving average price is $79.47 and its 200-day moving average price is $80.79.

MSC Industrial Direct (NYSE:MSMGet Rating) last announced its quarterly earnings data 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. MSC Industrial Direct had a return on equity of 25.72% and a net margin of 8.62%. The company had revenue of $958.60 million for the quarter, compared to the consensus estimate of $962.54 million. During the same quarter in the prior year, the company posted $1.42 EPS. MSC Industrial Direct’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 6.14 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Tuesday, July 12th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, July 11th. This represents a $3.00 dividend on an annualized basis and a yield of 3.82%. MSC Industrial Direct’s payout ratio is 55.66%.

Insider Buying and Selling at MSC Industrial Direct

In related news, Director Mitchell Jacobson purchased 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was purchased at an average price of $72.25 per share, with a total value of $14,450,000.00. Following the completion of the purchase, the director now owns 272,450 shares of the company’s stock, valued at approximately $19,684,512.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other MSC Industrial Direct news, SVP Elizabeth Bledsoe sold 4,701 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $74.53, for a total transaction of $350,365.53. Following the transaction, the senior vice president now directly owns 1,816 shares in the company, valued at approximately $135,346.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell Jacobson bought 200,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 272,450 shares in the company, valued at approximately $19,684,512.50. The disclosure for this purchase can be found here. Insiders sold a total of 37,059 shares of company stock valued at $3,052,688 in the last three months. Company insiders own 28.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports 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. Stephens decreased their price target on MSC Industrial Direct to $100.00 in a report on Monday, July 4th. Robert W. Baird dropped their price objective on shares of MSC Industrial Direct from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, June 30th. Finally, raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, MSC Industrial Direct presently has an average rating of “Moderate Buy” and a consensus price target of $98.25.

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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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