MSC Industrial Direct Company, Inc. (NYSE:MSM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 11.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 705,551 shares of the industrial products company’s stock after selling 87,633 shares during the period. Bank of New York Mellon Corp owned about 1.27% of MSC Industrial Direct worth $54,800,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in MSC Industrial Direct in the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC increased its holdings in MSC Industrial Direct by 895.0% in the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 537 shares during the last quarter. GAMMA Investing LLC increased its holdings in MSC Industrial Direct by 47.1% in the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 218 shares during the last quarter. UMB Bank n.a. increased its holdings in MSC Industrial Direct by 51.1% in the 1st quarter. UMB Bank n.a. now owns 719 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 243 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in MSC Industrial Direct by 116.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,230 shares of the industrial products company’s stock valued at $92,000 after buying an additional 661 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Kimberly Shacklett sold 2,130 shares of the business’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total value of $195,960.00. Following the completion of the sale, the senior vice president directly owned 14,657 shares of the company’s stock, valued at $1,348,444. The trade was a 12.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.30% of the stock is currently owned by company insiders.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $90.49 on Friday. The stock has a market cap of $5.04 billion, a P/E ratio of 25.56 and a beta of 0.87. The company has a fifty day simple moving average of $82.44 and a 200-day simple moving average of $79.98. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $92.68. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

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

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be given a $0.85 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 3.76%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 96.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MSM shares. Loop Capital boosted their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Stephens boosted their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 2nd. Robert W. Baird boosted their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Wolfe Research raised shares of MSC Industrial Direct to a “strong-buy” rating in a research report on Sunday, April 6th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.33.

MSC Industrial Direct Profile

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.