Segall Bryant & Hamill LLC cut its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,039 shares of the industrial products company’s stock after selling 5,440 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in MSC Industrial Direct were worth $5,223,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of MSM. Nationwide Fund Advisors raised its stake in shares of MSC Industrial Direct by 29.8% in the third quarter. Nationwide Fund Advisors now owns 160,541 shares of the industrial products company’s stock worth $12,132,000 after purchasing an additional 36,882 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of MSC Industrial Direct in the third quarter worth approximately $857,000. Sei Investments Co. raised its stake in shares of MSC Industrial Direct by 114.6% in the third quarter. Sei Investments Co. now owns 63,342 shares of the industrial products company’s stock worth $4,787,000 after purchasing an additional 33,819 shares during the last quarter. Rhumbline Advisers raised its stake in shares of MSC Industrial Direct by 19.4% in the third quarter. Rhumbline Advisers now owns 126,620 shares of the industrial products company’s stock worth $9,569,000 after purchasing an additional 20,602 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of MSC Industrial Direct by 105.3% in the third quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock worth $89,112,000 after purchasing an additional 604,873 shares during the last quarter. 75.35% of the stock is owned by hedge funds and other institutional investors.
In other MSC Industrial Direct news, CEO Erik Gershwind sold 37,703 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $94.16, for a total transaction of $3,550,114.48. Following the completion of the transaction, the chief executive officer now directly owns 117,885 shares of the company’s stock, valued at $11,100,051.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Rustom Jilla sold 2,500 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $99.00, for a total value of $247,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 783,437 shares of company stock valued at $74,083,049. 31.38% of the stock is owned by corporate insiders.
Several brokerages have recently commented on MSM. Zacks Investment Research downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Gabelli downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $99.00 price objective for the company. in a research note on Friday, March 16th. Goldman Sachs began coverage on MSC Industrial Direct in a research note on Sunday. They issued a “buy” rating and a $107.00 price objective for the company. TheStreet raised MSC Industrial Direct from a “c+” rating to a “b-” rating in a research note on Tuesday, November 28th. Finally, Stephens set a $114.00 target price on MSC Industrial Direct and gave the company a “buy” rating in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus target price of $96.92.
MSC Industrial Direct stock opened at $93.49 on Thursday. The stock has a market capitalization of $5,283.15, a P/E ratio of 22.60, a PEG ratio of 1.36 and a beta of 0.64. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. MSC Industrial Direct Co Inc has a twelve month low of $65.42 and a twelve month high of $104.59.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The firm had revenue of $768.60 million for the quarter, compared to the consensus estimate of $770.95 million. During the same period last year, the company posted $0.95 earnings per share. MSC Industrial Direct’s revenue for the quarter was up 12.0% on a year-over-year basis. analysts anticipate that MSC Industrial Direct Co Inc will post 5.06 EPS for the current year.
MSC Industrial Direct declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 10th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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About MSC Industrial Direct
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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