Texas Permanent School Fund Corp Sells 3,253 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Texas Permanent School Fund Corp lessened its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 8.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,729 shares of the industrial products company’s stock after selling 3,253 shares during the period. Texas Permanent School Fund Corp owned 0.07% of MSC Industrial Direct worth $2,913,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its stake in MSC Industrial Direct by 1,142.3% during the second 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 bought a new stake in MSC Industrial Direct in the second quarter valued at $26,000. Quest Partners LLC increased its stake in MSC Industrial Direct by 35,300.0% in the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $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 first quarter valued at $29,000. Finally, Bessemer Group Inc. increased its stake in MSC Industrial Direct by 261.7% in the first quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Up 1.0 %

MSC Industrial Direct stock opened at $79.48 on Monday. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $105.77. The stock has a market cap of $4.46 billion, a PE ratio of 15.43 and a beta of 0.86. The firm’s 50-day simple moving average is $81.45 and its 200 day simple moving average is $87.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share for the quarter, hitting the consensus estimate of $1.33. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The business had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. During the same period in the previous year, the company earned $1.74 earnings per share. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. Research analysts predict 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. Investors of record on Tuesday, July 9th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.18%. The ex-dividend date was Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 64.47%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MSM shares. Baird R W downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Loop Capital decreased their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. decreased their target price on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. KeyCorp downgraded shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Finally, Robert W. Baird decreased 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 report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.20.

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 shares were sold at an average price of $84.60, for a total transaction of $413,271.00. Following 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 filing with the SEC, which can be accessed through the SEC website. 18.80% of the stock is owned by corporate 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.