Stanley Laman Group Ltd. Cuts Holdings in MSC Industrial Direct Co Inc (NYSE:MSM)

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Stanley Laman Group Ltd. decreased its position in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 28.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,603 shares of the industrial products company’s stock after selling 3,422 shares during the period. Stanley Laman Group Ltd.’s holdings in MSC Industrial Direct were worth $639,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MSM. Bank of America Corp DE raised its position in MSC Industrial Direct by 5.6% in the fourth quarter. Bank of America Corp DE now owns 87,998 shares of the industrial products company’s stock valued at $6,769,000 after purchasing an additional 4,689 shares during the last quarter. Dimensional Fund Advisors LP raised its position in MSC Industrial Direct by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 529,995 shares of the industrial products company’s stock valued at $40,767,000 after purchasing an additional 25,564 shares during the last quarter. Geode Capital Management LLC raised its position in MSC Industrial Direct by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 436,353 shares of the industrial products company’s stock valued at $33,563,000 after purchasing an additional 23,379 shares during the last quarter. State of Alaska Department of Revenue raised its position in MSC Industrial Direct by 36.1% in the first quarter. State of Alaska Department of Revenue now owns 15,318 shares of the industrial products company’s stock valued at $1,265,000 after purchasing an additional 4,067 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in MSC Industrial Direct in the first quarter valued at about $243,000. Hedge funds and other institutional investors own 75.56% of the company’s stock.

Several research firms have commented on MSM. William Blair downgraded MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 7th. Raymond James lowered their price objective on MSC Industrial Direct from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, July 11th. Buckingham Research lowered their price objective on MSC Industrial Direct from $77.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Wells Fargo & Co set a $70.00 price objective on MSC Industrial Direct and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, Zacks Investment Research downgraded MSC Industrial Direct from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. MSC Industrial Direct has a consensus rating of “Hold” and an average price target of $80.70.

Shares of MSM traded up $0.65 during mid-day trading on Thursday, reaching $66.36. 4,751 shares of the company were exchanged, compared to its average volume of 473,154. MSC Industrial Direct Co Inc has a 52 week low of $64.59 and a 52 week high of $90.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.50 and a quick ratio of 1.35. The company has a market capitalization of $3.71 billion, a PE ratio of 13.10, a PEG ratio of 1.02 and a beta of 0.91. The stock has a 50 day simple moving average of $71.06.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.05). MSC Industrial Direct had a return on equity of 21.08% and a net margin of 8.79%. The company had revenue of $866.50 million for the quarter, compared to the consensus estimate of $881.62 million. During the same quarter last year, the business earned $1.39 earnings per share. MSC Industrial Direct’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts predict that MSC Industrial Direct Co Inc will post 5.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Tuesday, July 23rd were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $3.00 annualized dividend and a yield of 4.52%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.63. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 59.06%.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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 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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