Arizona State Retirement System lessened its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM – Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,819 shares of the industrial products company’s stock after selling 212 shares during the quarter. Arizona State Retirement System’s holdings in MSC Industrial Direct were worth $996,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC purchased a new position in MSC Industrial Direct in the fourth quarter worth $25,000. Farther Finance Advisors LLC grew its holdings in MSC Industrial Direct by 895.0% in the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 537 shares during the last quarter. GAMMA Investing LLC grew its holdings in MSC Industrial Direct by 47.1% in the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 218 shares during the last quarter. UMB Bank n.a. grew its holdings in MSC Industrial Direct by 51.1% in the first quarter. UMB Bank n.a. now owns 719 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 243 shares during the last quarter. Finally, HM Payson & Co. purchased a new position in MSC Industrial Direct in the first quarter worth $59,000. Institutional investors own 79.26% of the company’s stock.
Insider Buying and Selling at MSC Industrial Direct
In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president owned 14,657 shares in the company, valued at approximately $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 18.30% of the company’s stock.
MSC Industrial Direct Price Performance
MSC Industrial Direct (NYSE:MSM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. Research analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.
MSC Industrial Direct Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.89%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 96.05%.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Loop Capital lifted their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price objective on shares of MSC Industrial Direct in a report on Tuesday, May 27th. Stephens boosted their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, July 2nd. Robert W. Baird boosted their price objective on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.33.
View Our Latest Stock Analysis on MSC Industrial Direct
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.
Read More
- Five stocks we like better than MSC Industrial Direct
- The 3 Best Blue-Chip Stocks to Buy Now
- 3 Streaming Stocks to Watch as Subscribers Drive Growth
- Growth Stocks: What They Are, What They Are Not
- America Wants Drone Dominance: Are These Stocks Ready to Soar?
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- 3 Retailers Poised to Outmaneuver Tariff and Recession Concerns
Want to see what other hedge funds are holding MSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MSC Industrial Direct Company, Inc. (NYSE:MSM – Free Report).
Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.