Legal & General Group Plc decreased its position in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,941 shares of the industrial products company’s stock after selling 677 shares during the period. Legal & General Group Plc owned approximately 0.11% of MSC Industrial Direct worth $5,341,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Management One Co. Ltd. acquired a new stake in shares of MSC Industrial Direct during the first quarter valued at about $191,000. Quantbot Technologies LP acquired a new stake in shares of MSC Industrial Direct during the first quarter valued at about $199,000. CHICAGO TRUST Co NA acquired a new stake in shares of MSC Industrial Direct during the second quarter valued at about $218,000. Meeder Asset Management Inc. boosted its stake in shares of MSC Industrial Direct by 374.5% during the second quarter. Meeder Asset Management Inc. now owns 3,089 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 2,438 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in shares of MSC Industrial Direct during the first quarter valued at about $271,000. Institutional investors own 75.19% of the company’s stock.
Shares of NYSE MSM traded up $0.95 during midday trading on Friday, hitting $80.57. 576,377 shares of the stock traded hands, compared to its average volume of 595,919. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 1.10 and a beta of 0.51. MSC Industrial Direct Co Inc has a one year low of $75.41 and a one year high of $99.94. The company has a quick ratio of 1.14, a current ratio of 2.11 and a debt-to-equity ratio of 0.18.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 11th. The industrial products company reported $1.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.39. The firm had revenue of $828.30 million during the quarter, compared to the consensus estimate of $834.43 million. MSC Industrial Direct had a return on equity of 21.08% and a net margin of 10.16%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, equities research analysts anticipate that MSC Industrial Direct Co Inc will post 5.06 earnings per share for the current year.
In related news, SVP Gregory Polli sold 8,696 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $82.38, for a total transaction of $716,376.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Denis F. Kelly sold 1,500 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $88.43, for a total value of $132,645.00. The disclosure for this sale can be found here. 31.38% of the stock is owned by insiders.
A number of equities analysts recently commented on MSM shares. Northcoast Research set a $95.00 price objective on MSC Industrial Direct and gave the stock a “buy” rating in a research note on Friday, July 13th. Gordon Haskett started coverage on MSC Industrial Direct in a research note on Friday. They issued a “buy” rating on the stock. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research note on Wednesday, September 26th. ValuEngine raised MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Finally, Wells Fargo & Co cut their price objective on MSC Industrial Direct from $95.00 to $87.00 and set a “market perform” rating on the stock in a research note on Thursday, July 12th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $100.00.
MSC Industrial Direct Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.
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