Frank Rimerman Advisors LLC Takes Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Frank Rimerman Advisors LLC acquired a new position in MSC Industrial Direct Co., Inc. (NYSE:MSM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,764 shares of the industrial products company’s stock, valued at approximately $536,000.

Several other hedge funds have also recently bought and sold shares of MSM. Blue Trust Inc. increased its holdings 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 valued at $26,000 after acquiring 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. Future Financial Wealth Managment LLC acquired a new stake in shares of MSC Industrial Direct in the first quarter worth $29,000. Finally, Bessemer Group Inc. boosted its holdings in shares of MSC Industrial Direct by 261.7% during the 1st quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock worth $37,000 after buying an additional 280 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MSC Industrial Direct

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction on 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 directly owns 12,897 shares of the company’s stock, valued at $1,091,086.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Loop Capital dropped their price target on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced 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. Stephens reaffirmed an “overweight” rating and set a $110.00 target price on shares of MSC Industrial Direct in a research report on Friday, June 14th. Finally, StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Six investment 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 currently has a consensus rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM opened at $85.33 on Tuesday. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 16.57 and a beta of 0.86. MSC Industrial Direct Co., Inc. has a one year low of $75.05 and a one year high of $105.77. The business has a fifty day simple moving average of $82.11 and a 200 day simple moving average of $86.55. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, hitting analysts’ consensus estimates of $1.33. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The firm had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. During the same quarter last year, the company earned $1.74 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current year.

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.