MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC trimmed its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 53.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413 shares of the industrial products company’s stock after selling 474 shares during the quarter. Headlands Technologies LLC’s holdings in MSC Industrial Direct were worth $33,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSM. Blue Trust Inc. increased 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 purchasing an additional 297 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of MSC Industrial Direct during the 2nd quarter worth about $26,000. Quest Partners LLC increased its position 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 during the last quarter. Future Financial Wealth Managment LLC acquired a new position in MSC Industrial Direct in the 1st quarter valued at about $29,000. Finally, Bessemer Group Inc. grew its position 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 in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Price Performance

MSM stock opened at $81.88 on Wednesday. The business has a 50 day moving average price of $81.52 and a 200 day moving average price of $87.13. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 15.90 and a beta of 0.86. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $105.77. 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 posted its 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. 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 was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 earnings per share. Equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

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

Insider Buying and Selling

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of the business’s 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 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 SEC, which is available through this link. 18.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on 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 MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Baird R W downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. StockNews.com cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Finally, Loop Capital decreased their price objective on 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. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $90.20.

MSC Industrial Direct Company 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.