Kayne Anderson Rudnick Investment Management LLC Has $13.26 Million Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Kayne Anderson Rudnick Investment Management LLC lessened its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 167,215 shares of the industrial products company’s stock after selling 3,834 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.30% of MSC Industrial Direct worth $13,262,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in shares of MSC Industrial Direct in the first quarter worth $29,000. Blue Trust Inc. lifted its holdings in MSC Industrial Direct by 1,142.3% in 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 bought a new position in shares of MSC Industrial Direct in the second quarter valued at approximately $26,000. Quest Partners LLC lifted its stake in shares of 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 worth $28,000 after buying an additional 353 shares during the last quarter. Finally, Bessemer Group Inc. grew 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 buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct 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 owns 12,897 shares in the company, valued at $1,091,086.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Baird R W lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Robert W. Baird decreased their price objective 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. Loop Capital cut their price objective on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Finally, JPMorgan Chase & Co. cut their price objective 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $90.20.

MSC Industrial Direct Price Performance

Shares of MSM stock opened at $83.86 on Monday. 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 Co., Inc. has a 12-month low of $75.05 and a 12-month high of $105.77. The firm has a fifty day moving average of $82.02 and a 200-day moving average of $86.66. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 16.28 and a beta of 0.86.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, meeting analysts’ consensus estimates 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%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 earnings per share. On average, equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th were paid a $0.83 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $3.32 annualized dividend and a dividend yield of 3.96%. MSC Industrial Direct’s dividend payout ratio is presently 64.47%.

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.