Amalgamated Bank Sells 159 Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM)

Amalgamated Bank cut its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,846 shares of the industrial products company’s stock after selling 159 shares during the quarter. Amalgamated Bank’s holdings in MSC Industrial Direct were worth $1,619,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its position in shares of MSC Industrial Direct by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 20,179 shares of the industrial products company’s stock valued at $1,507,000 after purchasing an additional 130 shares during the last quarter. Covestor Ltd increased its position in shares of MSC Industrial Direct by 6.6% during the 4th quarter. Covestor Ltd now owns 2,325 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 143 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of MSC Industrial Direct by 0.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 38,611 shares of the industrial products company’s stock valued at $2,884,000 after purchasing an additional 166 shares during the last quarter. Beverly Hills Private Wealth LLC increased its position in shares of MSC Industrial Direct by 4.9% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 3,592 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 167 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in MSC Industrial Direct by 6.1% during the 1st quarter. Parallel Advisors LLC now owns 3,792 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 217 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MSM. Robert W. Baird raised their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Wolfe Research upgraded MSC Industrial Direct to a “strong-buy” rating in a research report on Sunday, April 6th. JPMorgan Chase & Co. upgraded MSC Industrial Direct from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $73.00 to $89.00 in a research report on Tuesday, May 27th. Loop Capital raised their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, July 2nd. Finally, Stephens raised their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MSC Industrial Direct presently has an average rating of “Moderate Buy” and an average price target of $90.33.

Insider Transactions at MSC Industrial Direct

In related news, Director Mitchell Jacobson acquired 27,642 shares of the stock in a transaction on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the purchase, the director owned 1,951,725 shares of the company’s stock, valued at $136,171,853.25. This represents a 1.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.30% of the company’s stock.

MSC Industrial Direct Trading Up 0.4%

NYSE MSM opened at $89.97 on Monday. The stock has a market cap of $5.01 billion, a P/E ratio of 25.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. The stock has a 50 day simple moving average of $81.07 and a two-hundred day simple moving average of $79.51. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $90.85.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The company had revenue of $971.15 million during the quarter, compared to analysts’ expectations of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Wednesday, July 9th. MSC Industrial Direct’s payout ratio is 96.05%.

About MSC Industrial Direct

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, the United Kingdom, and internationally. The company's 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.