MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Red Spruce Capital LLC

Red Spruce Capital LLC lowered its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,285 shares of the industrial products company’s stock after selling 592 shares during the period. Red Spruce Capital LLC’s holdings in MSC Industrial Direct were worth $1,660,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its position 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 buying an additional 297 shares during the period. Ridgewood Investments LLC acquired a new position in MSC Industrial Direct during the 2nd quarter worth $26,000. Quest Partners LLC grew 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 purchasing an additional 353 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of MSC Industrial Direct during the first quarter valued at $29,000. Finally, Quent Capital LLC raised its stake in shares of MSC Industrial Direct by 57.0% during the third quarter. Quent Capital LLC now owns 372 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of NYSE MSM traded down $0.11 during mid-day trading on Friday, reaching $83.40. The company had a trading volume of 383,352 shares, compared to its average volume of 557,873. MSC Industrial Direct Co., Inc. has a 1-year low of $75.05 and a 1-year high of $105.77. The stock has a market cap of $4.68 billion, a PE ratio of 16.19 and a beta of 0.86. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $82.23 and a two-hundred day moving average price of $85.95.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.33. The firm had revenue of $979.40 million for the quarter, compared to the consensus estimate of $979.10 million. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 EPS. On average, equities analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current year.

Insider Activity

In related news, SVP Kimberly Shacklett sold 4,885 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 12,897 shares of the company’s stock, valued at approximately $1,091,086.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 18.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stephens restated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a research report on Friday, June 14th. KeyCorp lowered MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Robert W. Baird dropped their price objective on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Loop Capital decreased their target price 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. Finally, StockNews.com cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, MSC Industrial Direct currently has an average rating of “Hold” and a consensus target price of $90.20.

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.