National Bank of Canada FI Grows Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

National Bank of Canada FI increased its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 13.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,358 shares of the industrial products company’s stock after acquiring an additional 288 shares during the quarter. National Bank of Canada FI’s holdings in MSC Industrial Direct were worth $185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MSM. Blue Trust Inc. lifted its position 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 buying an additional 297 shares during the last quarter. Ridgewood Investments LLC acquired a new position in MSC Industrial Direct in the second quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new position in shares of MSC Industrial Direct during the first quarter worth about $29,000. Bessemer Group Inc. increased its position in shares of MSC Industrial Direct by 261.7% during the first quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 280 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of MSC Industrial Direct in the 4th quarter valued at about $40,000. 79.26% of the stock is owned by institutional investors and hedge funds.

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 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 owns 12,897 shares in the company, valued at $1,091,086.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 18.80% of the company’s stock.

MSC Industrial Direct Trading Up 1.0 %

Shares of MSC Industrial Direct stock opened at $79.48 on Friday. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 15.43 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’s 50-day simple moving average is $81.45 and its 200-day simple moving average is $87.45. 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 (NYSE:MSM) last issued its 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. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The business had revenue of $979.40 million during the quarter, compared to the consensus estimate of $979.10 million. During the same period in the prior year, the business posted $1.74 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders 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 annualized dividend and a dividend yield of 4.18%. MSC Industrial Direct’s payout ratio is currently 64.47%.

Analyst Ratings Changes

MSM has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price target on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. KeyCorp cut shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Baird R W downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Loop Capital reduced 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. Finally, Robert W. Baird lowered their price target on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Six equities 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 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.