MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) by 8.7% in the second quarter, Holdings Channel reports. The institutional investor owned 84,567 shares of the industrial products company’s stock after selling 8,092 shares during the period. California Public Employees Retirement System’s holdings in MSC Industrial Direct were worth $6,352,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MSM. Green Square Capital Advisors LLC lifted its position in MSC Industrial Direct by 5.9% in the first quarter. Green Square Capital Advisors LLC now owns 21,894 shares of the industrial products company’s stock valued at $1,866,000 after purchasing an additional 1,217 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of MSC Industrial Direct by 0.3% in the 1st quarter. New York State Common Retirement Fund now owns 103,024 shares of the industrial products company’s stock valued at $8,779,000 after buying an additional 352 shares during the period. Capital Advisors Inc. OK boosted its stake in shares of MSC Industrial Direct by 5.6% in the first quarter. Capital Advisors Inc. OK now owns 246,095 shares of the industrial products company’s stock valued at $20,970,000 after buying an additional 13,129 shares in the last quarter. Aigen Investment Management LP acquired a new position in MSC Industrial Direct during the first quarter worth $650,000. Finally, Valley National Advisers Inc. raised its position in MSC Industrial Direct by 36.3% in the first quarter. Valley National Advisers Inc. now owns 42,739 shares of the industrial products company’s stock worth $3,641,000 after acquiring an additional 11,375 shares in the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MSM shares. KeyCorp lowered their price target on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, October 14th. Jefferies Financial Group restated a “hold” rating and set a $84.00 price objective on shares of MSC Industrial Direct in a research report on Monday, October 17th. Finally, StockNews.com started coverage on MSC Industrial Direct in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MSC Industrial Direct presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $85.18, for a total value of $4,259,000.00. Following the transaction, the chief executive officer now owns 463,723 shares in the company, valued at approximately $39,499,925.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 28.28% of the stock is owned by company insiders.

MSC Industrial Direct Stock Down 1.6 %

Shares of NYSE MSM opened at $84.10 on Friday. MSC Industrial Direct Co., Inc. has a 1 year low of $71.32 and a 1 year high of $87.99. The firm’s 50 day moving average price is $79.01 and its 200 day moving average price is $79.63. The firm has a market cap of $4.70 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.82 and a beta of 1.04. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.14 and a current ratio of 2.13.

MSC Industrial Direct (NYSE:MSMGet Rating) last announced its earnings results on Thursday, October 20th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.02. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. MSC Industrial Direct had a net margin of 9.20% and a return on equity of 27.04%. MSC Industrial Direct’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 earnings per share. As a group, sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 6.07 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, November 14th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.75. MSC Industrial Direct’s dividend payout ratio (DPR) is 52.06%.

MSC Industrial Direct Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding MSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating).

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

Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.