PNC Financial Services Group Inc. Sells 813 Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM)

PNC Financial Services Group Inc. reduced its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 20.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,241 shares of the industrial products company’s stock after selling 813 shares during the period. PNC Financial Services Group Inc.’s holdings in MSC Industrial Direct were worth $252,000 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 MSM. Investment Management Corp VA ADV grew its position in shares of MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 268 shares during the period. Neo Ivy Capital Management bought a new position in shares of MSC Industrial Direct during the 1st quarter valued at approximately $32,000. Farther Finance Advisors LLC boosted 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 worth $46,000 after buying an additional 537 shares during the period. GAMMA Investing LLC boosted 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 worth $53,000 after buying an additional 218 shares during the period. Finally, UMB Bank n.a. boosted 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 worth $56,000 after buying an additional 243 shares during the period. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Stock Performance

NYSE MSM opened at $87.00 on Friday. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. The stock has a market capitalization of $4.84 billion, a PE ratio of 24.58 and a beta of 0.92. The company’s 50 day simple moving average is $86.10 and its two-hundred day simple moving average is $81.18.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $971.15 million for the quarter, compared to analysts’ expectations of $969.72 million. During the same period in the prior year, the company posted $1.33 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were paid a $0.85 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 annualized dividend and a yield of 3.9%. MSC Industrial Direct’s dividend payout ratio is currently 96.05%.

Analysts Set New Price Targets

Several research analysts recently commented on MSM shares. Industrial Alliance Securities set a $89.00 price objective on shares of MSC Industrial Direct in a report on Tuesday, May 27th. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $73.00 to $89.00 in a report on Tuesday, May 27th. Loop Capital raised their price objective 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. Stephens raised their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. Finally, Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.33.

Insider Transactions at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of the firm’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $195,960.00. Following the sale, the senior vice president owned 14,657 shares in the company, valued at approximately $1,348,444. This trade represents a 12.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 18.30% of the stock is owned by corporate insiders.

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.