Steel Grove Capital Advisors LLC Cuts Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Steel Grove Capital Advisors LLC lowered its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,228 shares of the industrial products company’s stock after selling 1,636 shares during the period. Steel Grove Capital Advisors LLC’s holdings in MSC Industrial Direct were worth $1,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MSM. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 297 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in MSC Industrial Direct during the 2nd quarter valued at about $26,000. Quest Partners LLC grew its stake in 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 valued at $28,000 after acquiring an additional 353 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in MSC Industrial Direct during the 1st quarter valued at about $29,000. Finally, Bessemer Group Inc. grew its stake in MSC Industrial Direct by 261.7% during 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. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $83.86 on Monday. The firm’s 50 day moving average price is $82.02 and its 200-day moving average price is $86.66. 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 Co., Inc. has a one year low of $75.05 and a one year high of $105.77. The firm has a market cap of $4.71 billion, a P/E ratio of 16.28 and a beta of 0.86.

MSC Industrial Direct (NYSE:MSM) last released 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. The company had revenue of $979.40 million for the quarter, compared to analyst estimates of $979.10 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.74 EPS. As a group, equities research analysts predict that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.83 per share. The ex-dividend date was Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a yield of 3.96%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 64.47%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. KeyCorp cut shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Stephens reiterated an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a report on Friday, June 14th. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. JPMorgan Chase & Co. decreased their target price 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, Loop Capital decreased their target price on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a report 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $90.20.

Insiders Place Their Bets

In related news, SVP Kimberly Shacklett sold 4,885 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total value of $413,271.00. Following the transaction, the senior vice president now directly owns 12,897 shares of the company’s stock, valued at approximately $1,091,086.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 18.80% of the stock is owned by company insiders.

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.