FIL Ltd Sells 79,647 Shares of MSC Industrial Direct Co Inc (NYSE:MSM)

FIL Ltd reduced its position in MSC Industrial Direct Co Inc (NYSE:MSM) by 52.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 70,819 shares of the industrial products company’s stock after selling 79,647 shares during the quarter. FIL Ltd’s holdings in MSC Industrial Direct were worth $5,857,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Investors Research Corp acquired a new position in MSC Industrial Direct during the 1st quarter worth about $25,000. Pearl River Capital LLC bought a new stake in MSC Industrial Direct in the 4th quarter valued at about $35,000. Quadrant Capital Group LLC increased its holdings in MSC Industrial Direct by 1,212.1% during the 1st quarter. Quadrant Capital Group LLC now owns 761 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 703 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in MSC Industrial Direct by 25.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,151 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 231 shares in the last quarter. Finally, NumerixS Investment Technologies Inc increased its holdings in MSC Industrial Direct by 71.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 500 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

NYSE MSM opened at $72.10 on Thursday. The company has a quick ratio of 1.18, a current ratio of 2.19 and a debt-to-equity ratio of 0.20. MSC Industrial Direct Co Inc has a 12-month low of $69.81 and a 12-month high of $94.64. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.31 and a beta of 0.96.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, April 10th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.02). MSC Industrial Direct had a net margin of 8.88% and a return on equity of 21.20%. The business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $826.98 million. During the same quarter in the previous year, the company earned $1.34 earnings per share. Sell-side analysts predict that MSC Industrial Direct Co Inc will post 5.55 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on MSM. Robert W. Baird cut their target price on MSC Industrial Direct from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Zacks Investment Research downgraded MSC Industrial Direct from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. William Blair cut shares of MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. ValuEngine cut shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Gordon Haskett cut MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $72.02 target price on the stock. in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $86.56.

In other MSC Industrial Direct news, EVP Steven N. Baruch sold 5,404 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $82.00, for a total transaction of $443,128.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas E. Jones sold 2,126 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.50, for a total transaction of $177,521.00. Following the sale, the executive vice president now owns 7,496 shares of the company’s stock, valued at $625,916. The disclosure for this sale can be found here. Corporate insiders own 27.96% of the company’s stock.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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 products, 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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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