New York State Teachers Retirement System Trims Stake in MSC Industrial Direct (MSM)

New York State Teachers Retirement System cut its stake in shares of MSC Industrial Direct (NYSE:MSM) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,778 shares of the industrial products company’s stock after selling 4,300 shares during the quarter. New York State Teachers Retirement System’s holdings in MSC Industrial Direct were worth $6,858,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Delpha Capital Management LLC purchased a new position in MSC Industrial Direct during the fourth quarter valued at approximately $111,000. Cerebellum GP LLC purchased a new position in MSC Industrial Direct during the fourth quarter valued at approximately $127,000. Captrust Financial Advisors purchased a new position in MSC Industrial Direct during the fourth quarter valued at approximately $129,000. Cutler Group LP increased its holdings in MSC Industrial Direct by 457.8% during the fourth quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock valued at $138,000 after buying an additional 1,831 shares during the period. Finally, Texas Yale Capital Corp. purchased a new position in MSC Industrial Direct during the fourth quarter valued at approximately $215,000. 76.75% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Stephens reissued a “buy” rating and set a $116.00 price objective on shares of MSC Industrial Direct in a report on Tuesday, April 10th. Goldman Sachs assumed coverage on shares of MSC Industrial Direct in a report on Sunday, March 18th. They set a “buy” rating and a $107.00 price objective on the stock. Gabelli lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $99.00 price objective on the stock. in a report on Friday, March 16th. BMO Capital Markets lifted their price objective on shares of MSC Industrial Direct from $103.00 to $104.00 and gave the company a “market perform” rating in a report on Wednesday, April 11th. Finally, Zacks Investment Research lowered shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $100.62.

In other MSC Industrial Direct news, Director Denis F. Kelly sold 564 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $90.54, for a total value of $51,064.56. Following the completion of the sale, the director now directly owns 10,400 shares in the company, valued at $941,616. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.38% of the stock is owned by company insiders.

Shares of MSM opened at $91.96 on Monday. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.31 and a beta of 0.62. MSC Industrial Direct has a twelve month low of $65.42 and a twelve month high of $99.94. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 1.19.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Tuesday, April 10th. The industrial products company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.02. The company had revenue of $769.00 million during the quarter, compared to the consensus estimate of $773.42 million. MSC Industrial Direct had a net margin of 9.91% and a return on equity of 20.53%. MSC Industrial Direct’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. equities analysts predict that MSC Industrial Direct will post 5.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 17th were paid a $0.58 dividend. The ex-dividend date was Monday, April 16th. This represents a $2.32 annualized dividend and a yield of 2.52%. MSC Industrial Direct’s dividend payout ratio (DPR) is 57.28%.

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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