Professional Advisory Services Inc. Sells 23,061 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Professional Advisory Services Inc. trimmed its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 10.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 199,493 shares of the industrial products company’s stock after selling 23,061 shares during the period. MSC Industrial Direct comprises 2.9% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 20th biggest position. Professional Advisory Services Inc. owned approximately 0.36% of MSC Industrial Direct worth $19,008,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in MSC Industrial Direct by 20.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 30,040 shares of the industrial products company’s stock worth $2,455,000 after purchasing an additional 4,997 shares in the last quarter. Global Retirement Partners LLC grew its position in MSC Industrial Direct by 19.5% in the 1st quarter. Global Retirement Partners LLC now owns 1,062 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 173 shares in the last quarter. UBS Group AG grew its position in MSC Industrial Direct by 2,809.6% in the 4th quarter. UBS Group AG now owns 29,154 shares of the industrial products company’s stock worth $2,382,000 after purchasing an additional 28,152 shares in the last quarter. Factorial Partners LLC grew its position in MSC Industrial Direct by 10.2% in the 1st quarter. Factorial Partners LLC now owns 14,000 shares of the industrial products company’s stock worth $1,176,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its position in MSC Industrial Direct by 51.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 8,539 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 2,916 shares in the last quarter. 89.51% of the stock is owned by institutional investors.

MSC Industrial Direct Stock Performance

Shares of MSM stock traded up $0.41 during trading on Friday, reaching $96.32. 824,456 shares of the company’s stock traded hands, compared to its average volume of 393,176. The company has a market capitalization of $5.40 billion, a P/E ratio of 15.04 and a beta of 1.03. The company has a current ratio of 1.93, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average is $99.53 and its 200 day moving average is $93.03. MSC Industrial Direct Co., Inc. has a 1 year low of $71.32 and a 1 year high of $103.95.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Thursday, June 29th. The industrial products company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. MSC Industrial Direct had a net margin of 9.00% and a return on equity of 25.42%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. Equities research analysts expect that MSC Industrial Direct Co., Inc. will post 6.29 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Monday, July 10th. MSC Industrial Direct’s dividend payout ratio is presently 49.30%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, August 17th. They set a “buy” rating for the company. JPMorgan Chase & Co. increased their target price on shares of MSC Industrial Direct from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, June 30th. Finally, Robert W. Baird increased their target price on shares of MSC Industrial Direct from $104.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, June 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, MSC Industrial Direct has an average rating of “Moderate Buy” and a consensus target price of $96.17.

Insiders Place Their Bets

In other MSC Industrial Direct news, SVP Elizabeth Bledsoe sold 3,094 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $99.90, for a total value of $309,090.60. Following the sale, the senior vice president now directly owns 3,398 shares in the company, valued at approximately $339,460.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.39% of the company’s stock.

About MSC Industrial Direct

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.