Parallel Advisors LLC Has $482,000 Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Parallel Advisors LLC lowered its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 41.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,082 shares of the industrial products company’s stock after selling 4,340 shares during the period. Parallel Advisors LLC’s holdings in MSC Industrial Direct were worth $482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MSM. Blue Trust Inc. raised its stake in shares of MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 297 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of MSC Industrial Direct during the 2nd quarter worth approximately $26,000. Quest Partners LLC raised its stake in shares of MSC Industrial Direct by 35,300.0% during 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 stake in MSC Industrial Direct in the 1st quarter valued at $29,000. Finally, Bessemer Group Inc. raised its stake in MSC Industrial Direct by 261.7% in the 1st quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 280 shares during the period. Institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. KeyCorp cut MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. JPMorgan Chase & Co. dropped their price target on 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. Stephens reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a report on Friday, June 14th. StockNews.com lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Finally, Baird R W lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $90.20.

MSC Industrial Direct Stock Performance

MSM opened at $81.88 on Wednesday. The firm has a market cap of $4.60 billion, a P/E ratio of 15.90 and a beta of 0.86. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $105.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. The business’s fifty day moving average is $81.52 and its 200-day moving average is $87.13.

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

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 64.47%.

Insider Transactions at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 4,885 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $84.60, for a total value of $413,271.00. Following the sale, the senior vice president now directly owns 12,897 shares of the company’s stock, valued at $1,091,086.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 18.80% of the stock is currently owned by insiders.

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.