Retirement Systems of Alabama Sells 1,082 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Retirement Systems of Alabama trimmed its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 1.9% in the second quarter, HoldingsChannel.com reports. The fund owned 56,286 shares of the industrial products company’s stock after selling 1,082 shares during the period. Retirement Systems of Alabama’s holdings in MSC Industrial Direct were worth $4,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Capital Research Global Investors increased its position in shares of MSC Industrial Direct by 14.8% during the 4th quarter. Capital Research Global Investors now owns 775,000 shares of the industrial products company’s stock valued at $78,476,000 after purchasing an additional 100,000 shares during the last quarter. Norges Bank bought a new stake in MSC Industrial Direct in the fourth quarter worth about $56,088,000. Entropy Technologies LP purchased a new position in MSC Industrial Direct in the first quarter valued at about $775,000. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of MSC Industrial Direct by 183.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,323 shares of the industrial products company’s stock valued at $2,142,000 after acquiring an additional 14,451 shares during the period. Finally, Swedbank AB purchased a new stake in shares of MSC Industrial Direct during the 1st quarter worth approximately $16,571,000. 79.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

MSC Industrial Direct Stock Performance

Shares of MSM opened at $82.99 on Tuesday. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $105.77. The stock’s 50-day simple moving average is $81.23 and its 200 day simple moving average is $89.21. 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 stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 16.11 and a beta of 0.88.

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

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.00%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 64.47%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stephens reiterated an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a research note on Friday, June 14th. KeyCorp downgraded MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Baird R W cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. dropped their price objective on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Robert W. Baird reduced their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $90.20.

MSC Industrial Direct Profile

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.