Federated Investors Inc. PA Sells 3,042 Shares of MSC Industrial Direct Co Inc (MSM)

Federated Investors Inc. PA decreased its holdings in MSC Industrial Direct Co Inc (NYSE:MSM) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,120 shares of the industrial products company’s stock after selling 3,042 shares during the quarter. Federated Investors Inc. PA owned 0.05% of MSC Industrial Direct worth $2,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MSM. Wells Fargo & Company MN boosted its stake in shares of MSC Industrial Direct by 33.8% in the first quarter. Wells Fargo & Company MN now owns 90,230 shares of the industrial products company’s stock valued at $8,275,000 after purchasing an additional 22,794 shares during the period. Victory Capital Management Inc. purchased a new position in shares of MSC Industrial Direct in the first quarter valued at approximately $2,111,000. Swiss National Bank boosted its stake in shares of MSC Industrial Direct by 2.0% in the first quarter. Swiss National Bank now owns 78,300 shares of the industrial products company’s stock valued at $7,181,000 after purchasing an additional 1,500 shares during the period. Chicago Equity Partners LLC purchased a new position in shares of MSC Industrial Direct in the first quarter valued at approximately $783,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in MSC Industrial Direct by 54.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 361,050 shares of the industrial products company’s stock worth $33,112,000 after acquiring an additional 127,916 shares during the last quarter. 75.20% of the stock is owned by institutional investors and hedge funds.

Shares of MSC Industrial Direct stock opened at $87.38 on Monday. MSC Industrial Direct Co Inc has a 52-week low of $71.68 and a 52-week high of $99.94. The company has a quick ratio of 1.14, a current ratio of 2.11 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $4.92 billion, a P/E ratio of 21.58, a PEG ratio of 1.08 and a beta of 0.53.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, July 11th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.39. MSC Industrial Direct had a net margin of 10.16% and a return on equity of 21.08%. The company had revenue of $828.30 million during the quarter, compared to the consensus estimate of $834.43 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. equities research analysts anticipate that MSC Industrial Direct Co Inc will post 5.06 EPS for the current fiscal year.

In other MSC Industrial Direct news, Director Denis F. Kelly sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $88.43, for a total transaction of $132,645.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Gregory Polli sold 8,696 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $82.38, for a total transaction of $716,376.48. The disclosure for this sale can be found here. 31.28% of the stock is currently owned by company insiders.

A number of brokerages recently issued reports on MSM. Zacks Investment Research downgraded shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. ValuEngine downgraded shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Wells Fargo & Co decreased their price target on shares of MSC Industrial Direct from $95.00 to $87.00 and set a “market perform” rating for the company in a research note on Thursday, July 12th. Northcoast Research set a $95.00 price target on shares of MSC Industrial Direct and gave the stock a “buy” rating in a research note on Friday, July 13th. Finally, BMO Capital Markets decreased their price target on shares of MSC Industrial Direct from $104.00 to $92.00 and set a “market perform” rating for the company in a research note on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $101.23.

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.

Recommended Story: Hedge Funds Explained

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.


Leave a Reply