AdvisorNet Financial Inc Has $72,000 Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

AdvisorNet Financial Inc reduced its stake in MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) by 14.5% during the second quarter, Holdings Channel.com reports. The fund owned 955 shares of the industrial products company’s stock after selling 162 shares during the period. AdvisorNet Financial Inc’s holdings in MSC Industrial Direct were worth $72,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MSM. Citigroup Inc. lifted its stake in MSC Industrial Direct by 64.6% in the fourth quarter. Citigroup Inc. now owns 48,473 shares of the industrial products company’s stock valued at $4,075,000 after buying an additional 19,031 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in MSC Industrial Direct by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,844 shares of the industrial products company’s stock valued at $63,201,000 after buying an additional 29,756 shares during the period. Renaissance Technologies LLC bought a new stake in shares of MSC Industrial Direct during the fourth quarter valued at approximately $9,776,000. Geode Capital Management LLC increased its holdings in shares of MSC Industrial Direct by 26.7% during the fourth quarter. Geode Capital Management LLC now owns 789,186 shares of the industrial products company’s stock valued at $66,338,000 after acquiring an additional 166,064 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of MSC Industrial Direct by 12.6% during the fourth quarter. Invesco Ltd. now owns 557,693 shares of the industrial products company’s stock valued at $46,880,000 after acquiring an additional 62,316 shares in the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MSC Industrial Direct news, SVP Elizabeth Bledsoe sold 4,701 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $74.53, for a total value of $350,365.53. Following the transaction, the senior vice president now owns 1,816 shares of the company’s stock, valued at $135,346.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other MSC Industrial Direct news, SVP Elizabeth Bledsoe sold 4,701 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $74.53, for a total value of $350,365.53. Following the transaction, the senior vice president now owns 1,816 shares of the company’s stock, valued at $135,346.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mitchell Jacobson purchased 200,000 shares of the company’s stock in a transaction dated Wednesday, July 13th. The shares were purchased at an average cost of $72.25 per share, for a total transaction of $14,450,000.00. Following the transaction, the director now directly owns 272,450 shares in the company, valued at $19,684,512.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 37,059 shares of company stock valued at $3,052,688. Insiders own 28.28% of the company’s stock.

MSC Industrial Direct Trading Down 1.5 %

Shares of MSC Industrial Direct stock opened at $73.69 on Friday. The stock has a fifty day simple moving average of $80.43 and a 200 day simple moving average of $80.73. MSC Industrial Direct Co., Inc. has a 12-month low of $71.69 and a 12-month high of $87.99. The company has a market capitalization of $4.13 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.04. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.41.

MSC Industrial Direct (NYSE:MSMGet Rating) last announced its quarterly earnings results on Wednesday, June 29th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.07. MSC Industrial Direct had a return on equity of 25.72% and a net margin of 8.62%. The business had revenue of $958.60 million during the quarter, compared to the consensus estimate of $962.54 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. MSC Industrial Direct’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 6.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. William Blair downgraded MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 29th. Stephens decreased their price objective on MSC Industrial Direct to $100.00 in a report on Monday, July 4th. Finally, Robert W. Baird decreased their price objective on MSC Industrial Direct from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, June 30th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.25.

MSC Industrial Direct Company Profile

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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, and the United Kingdom. Its 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.

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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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