MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 11.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,054 shares of the industrial products company’s stock after selling 520 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MSC Industrial Direct were worth $303,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MSM. Atria Investments Inc acquired a new position in shares of MSC Industrial Direct during the 3rd quarter valued at $363,000. KBC Group NV increased its position in shares of MSC Industrial Direct by 26.3% during the 3rd quarter. KBC Group NV now owns 1,453 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 303 shares during the period. Empowered Funds LLC increased its position in shares of MSC Industrial Direct by 204.6% during the 3rd quarter. Empowered Funds LLC now owns 9,935 shares of the industrial products company’s stock valued at $855,000 after purchasing an additional 6,673 shares during the period. Natixis Advisors LLC grew its holdings in shares of MSC Industrial Direct by 16.2% in the 3rd quarter. Natixis Advisors LLC now owns 29,592 shares of the industrial products company’s stock worth $2,547,000 after acquiring an additional 4,123 shares during the last quarter. Finally, Pathstone Holdings LLC grew its holdings in shares of MSC Industrial Direct by 36.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,114 shares of the industrial products company’s stock worth $1,989,000 after acquiring an additional 6,172 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $77.46 on Friday. MSC Industrial Direct Co., Inc. has a 1-year low of $72.79 and a 1-year high of $100.35. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 18.49 and a beta of 0.90. The stock’s fifty day simple moving average is $80.35 and its 200-day simple moving average is $81.42.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The business had revenue of $928.50 million for the quarter, compared to the consensus estimate of $904.90 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. MSC Industrial Direct’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MSM shares. Wolfe Research started coverage on MSC Industrial Direct in a report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 target price on the stock. Stephens cut MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price on the stock. in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and one has given 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 $83.80.

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.