Beverly Hills Private Wealth LLC Trims Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Beverly Hills Private Wealth LLC lowered its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,258 shares of the industrial products company’s stock after selling 201 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in MSC Industrial Direct were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MSM. Blue Trust Inc. lifted its position in shares of MSC Industrial Direct by 1,142.3% in the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 297 shares in the last quarter. Ridgewood Investments LLC bought a new stake in MSC Industrial Direct during the 2nd quarter valued at approximately $26,000. Quest Partners LLC lifted its holdings in MSC Industrial Direct by 35,300.0% in the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 353 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in MSC Industrial Direct in the 1st quarter worth approximately $29,000. Finally, Bessemer Group Inc. grew its holdings in MSC Industrial Direct by 261.7% during the 1st quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock valued at $37,000 after buying an additional 280 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MSC Industrial Direct

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total value of $413,271.00. Following the completion of the sale, the senior vice president now directly owns 12,897 shares of the company’s stock, valued at approximately $1,091,086.20. The transaction was disclosed in a filing with the SEC, which is available through this link. 18.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MSM has been the topic of several research analyst reports. Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Loop Capital dropped their price target on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. KeyCorp downgraded MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Stephens reiterated an “overweight” rating and set a $110.00 target price on shares of MSC Industrial Direct in a research report on Friday, June 14th. Finally, Robert W. Baird reduced their price target on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Stock Performance

NYSE MSM opened at $79.48 on Friday. The business’s 50 day moving average price is $81.45 and its 200-day moving average price is $87.45. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $105.77. The company has a market cap of $4.46 billion, a P/E ratio of 15.43 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.33. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The business had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. During the same quarter in the previous year, the business posted $1.74 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. Sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.18%. The ex-dividend date was Tuesday, July 9th. MSC Industrial Direct’s payout ratio is currently 64.47%.

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, 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.