American International Group Inc. Cuts Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

American International Group Inc. reduced its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSMFree Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,634 shares of the industrial products company’s stock after selling 4,132 shares during the period. American International Group Inc.’s holdings in MSC Industrial Direct were worth $6,342,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MSM. Swiss National Bank increased its stake in MSC Industrial Direct by 1.4% during the 3rd quarter. Swiss National Bank now owns 104,200 shares of the industrial products company’s stock worth $10,227,000 after buying an additional 1,400 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in MSC Industrial Direct during the 3rd quarter worth approximately $607,000. Van ECK Associates Corp increased its stake in MSC Industrial Direct by 34.5% during the 3rd quarter. Van ECK Associates Corp now owns 11,158 shares of the industrial products company’s stock worth $1,095,000 after buying an additional 2,863 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in MSC Industrial Direct by 19.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,192 shares of the industrial products company’s stock worth $804,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Pathstone Family Office LLC grew its holdings in MSC Industrial Direct by 47.8% during the 3rd quarter. Pathstone Family Office LLC now owns 13,948 shares of the industrial products company’s stock worth $1,369,000 after acquiring an additional 4,511 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MSM. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a report on Monday, April 1st. Robert W. Baird cut shares of MSC Industrial Direct from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $112.00 to $95.00 in a report on Wednesday, May 29th. Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, StockNews.com cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $104.00.

Get Our Latest Analysis on MSM

MSC Industrial Direct Trading Down 1.6 %

Shares of MSC Industrial Direct stock opened at $83.99 on Tuesday. The company has a fifty day simple moving average of $91.17 and a 200-day simple moving average of $96.00. MSC Industrial Direct Co., Inc. has a 12-month low of $83.57 and a 12-month high of $105.77. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 15.08 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSMGet Free Report) last issued its earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The business had revenue of $935.30 million during the quarter, compared to analysts’ expectations of $946.55 million. During the same quarter in the prior year, the business posted $1.45 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts forecast that MSC Industrial Direct Co., Inc. will post 5.69 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th were given a $0.83 dividend. The ex-dividend date was Monday, April 8th. This represents a $3.32 annualized dividend and a yield of 3.95%. MSC Industrial Direct’s dividend payout ratio (DPR) is 59.61%.

MSC Industrial Direct Company Profile

(Free Report)

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, the United Kingdom, and internationally. The company's 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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