Aviva PLC Cuts Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Aviva PLC reduced its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 41.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,955 shares of the industrial products company’s stock after selling 8,346 shares during the quarter. Aviva PLC’s holdings in MSC Industrial Direct were worth $977,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in MSC Industrial Direct by 34.8% during the 1st quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company’s stock valued at $467,024,000 after purchasing an additional 1,414,485 shares during the last quarter. WealthPlan Investment Management LLC purchased a new position in shares of MSC Industrial Direct during the third quarter valued at approximately $19,415,000. Balyasny Asset Management LLC bought a new position in MSC Industrial Direct during the third quarter valued at approximately $14,719,000. LSV Asset Management purchased a new stake in MSC Industrial Direct in the third quarter worth approximately $14,054,000. Finally, Millennium Management LLC raised its stake in MSC Industrial Direct by 188.6% during the 2nd quarter. Millennium Management LLC now owns 239,453 shares of the industrial products company’s stock valued at $17,985,000 after buying an additional 156,483 shares during the last quarter. 73.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 6,442 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $90.99, for a total transaction of $586,157.58. Following the completion of the transaction, the senior vice president now directly owns 10,716 shares of the company’s stock, valued at $975,048.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.39% of the company’s stock.

MSC Industrial Direct Trading Up 0.4 %

Shares of MSC Industrial Direct stock opened at $93.12 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 2.04. The company has a fifty day moving average of $86.87 and a 200 day moving average of $84.64. The company has a market capitalization of $5.21 billion, a P/E ratio of 14.33 and a beta of 1.03. MSC Industrial Direct Co., Inc. has a fifty-two week low of $71.32 and a fifty-two week high of $93.62.

MSC Industrial Direct (NYSE:MSM – Get Rating) last released its quarterly earnings data on Tuesday, April 4th. The industrial products company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $961.60 million during the quarter, compared to analyst estimates of $934.76 million. MSC Industrial Direct had a return on equity of 26.66% and a net margin of 9.34%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. On average, sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 6.28 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 25th. Stockholders of record on Tuesday, April 11th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Monday, April 10th. MSC Industrial Direct’s payout ratio is currently 48.62%.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on MSC Industrial Direct from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, April 5th. Loop Capital upped their price target on shares of MSC Industrial Direct from $82.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, April 5th. Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $95.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, April 5th. KeyCorp upped their target price on shares of MSC Industrial Direct from $97.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, April 21st. Finally, Stephens reiterated an “overweight” rating and set a $100.00 price target on shares of MSC Industrial Direct in a research note on Wednesday, April 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, MSC Industrial Direct currently has a consensus rating of “Moderate Buy” and an average target price of $94.67.

About MSC Industrial Direct

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MSC Industrial Direct Co, Inc engages in the distribution of metalworking and maintenance, repair, and operations products and services. Its products include cutting tools, measuring instruments, tooling components, metalworking, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.