Bank of New York Mellon Corp Decreases Position in MSC Industrial Direct Company, Inc. $MSM

Bank of New York Mellon Corp trimmed its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 487,074 shares of the industrial products company’s stock after selling 4,985 shares during the period. Bank of New York Mellon Corp owned about 0.87% of MSC Industrial Direct worth $44,942,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MSM. Royal Bank of Canada lifted its position in MSC Industrial Direct by 4.8% during the first quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock worth $3,650,000 after buying an additional 2,164 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in MSC Industrial Direct in the 1st quarter valued at about $455,000. NewEdge Advisors LLC raised its holdings in MSC Industrial Direct by 79.9% in the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after buying an additional 333 shares during the period. United Services Automobile Association acquired a new position in MSC Industrial Direct in the first quarter valued at about $229,000. Finally, Empowered Funds LLC acquired a new position in MSC Industrial Direct in the first quarter valued at about $816,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Stock Down 0.0%

MSC Industrial Direct stock opened at $125.78 on Friday. The company has a market capitalization of $7.02 billion, a P/E ratio of 30.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. MSC Industrial Direct Company, Inc. has a fifty-two week low of $78.80 and a fifty-two week high of $128.79. The stock has a 50-day simple moving average of $117.16 and a 200-day simple moving average of $101.22.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that MSC Industrial Direct Company, Inc. will post 4.47 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 84.06%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MSM. KeyCorp lifted their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Wall Street Zen raised MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Zacks Research upgraded MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. Jefferies Financial Group set a $130.00 price target on shares of MSC Industrial Direct in a research note on Wednesday, July 1st. Finally, Rothschild & Co Redburn assumed coverage on shares of MSC Industrial Direct in a research report on Monday, July 13th. They set a “buy” rating and a $155.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $123.43.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.