Burns Matteson Capital Management LLC Has $373,000 Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Burns Matteson Capital Management LLC lowered its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 37.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,839 shares of the industrial products company’s stock after selling 2,278 shares during the period. Burns Matteson Capital Management LLC’s holdings in MSC Industrial Direct were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in shares of MSC Industrial Direct in the 1st quarter valued at approximately $29,000. 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 worth $37,000 after acquiring an additional 280 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of MSC Industrial Direct in the 4th quarter valued at $40,000. Quarry LP bought a new stake in shares of MSC Industrial Direct in the 4th quarter valued at $40,000. Finally, Salem Investment Counselors Inc. bought a new stake in shares of MSC Industrial Direct in the 4th quarter valued at $77,000. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of MSC Industrial Direct stock traded up $3.73 on Thursday, reaching $85.66. 494,823 shares of the stock were exchanged, compared to its average volume of 553,263. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $105.77. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 16.63 and a beta of 0.88. The business has a 50 day moving average price of $82.72 and a two-hundred day moving average price of $91.52.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, hitting the consensus estimate of $1.33. The firm had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.74 earnings per share. Analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th were issued a $0.83 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.88%. MSC Industrial Direct’s payout ratio is currently 64.47%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MSM. Loop Capital lowered their target price on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Baird R W lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. KeyCorp downgraded shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. JPMorgan Chase & Co. decreased their price target on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, Stephens restated an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.20.

Insider Activity

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $84.60, for a total value of $413,271.00. Following the transaction, the senior vice president now directly owns 12,897 shares in the company, valued at approximately $1,091,086.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.80% of the company’s stock.

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.