MSC Industrial Direct Sees Unusually High Options Volume (NYSE:MSM)

MSC Industrial Direct Co., Inc. (NYSE:MSM) was the target of unusually large options trading activity on Wednesday. Investors bought 11,316 call options on the stock. This is an increase of approximately 2,415% compared to the typical daily volume of 450 call options.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock traded up $0.22 during midday trading on Wednesday, reaching $80.42. 57,629 shares of the stock were exchanged, compared to its average volume of 554,066. The company’s fifty day moving average is $81.93 and its 200-day moving average is $85.54. 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 has a 52 week low of $75.05 and a 52 week high of $105.77. The firm has a market cap of $4.51 billion, a PE ratio of 15.57 and a beta of 0.86.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MSM shares. 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 report on Wednesday, July 3rd. KeyCorp lowered shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Stephens reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a report on Friday, June 14th. Robert W. Baird reduced their price objective on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. dropped their target price on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, MSC Industrial Direct presently has a consensus rating of “Hold” and an average price target of $90.20.

Insiders Place Their Bets

In other news, SVP Kimberly Shacklett sold 4,885 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MSM. American Century Companies Inc. increased its stake in MSC Industrial Direct by 85.1% in the 2nd quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock worth $216,772,000 after acquiring an additional 1,256,706 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MSC Industrial Direct by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the industrial products company’s stock worth $74,467,000 after purchasing an additional 61,022 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of MSC Industrial Direct by 12.5% in the second quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company’s stock worth $60,718,000 after purchasing an additional 84,967 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in MSC Industrial Direct by 1.9% in the second quarter. Disciplined Growth Investors Inc. MN now owns 606,702 shares of the industrial products company’s stock valued at $48,118,000 after purchasing an additional 11,257 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its position in MSC Industrial Direct by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 288,100 shares of the industrial products company’s stock valued at $22,849,000 after purchasing an additional 44,100 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

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.