Skandinaviska Enskilda Banken AB publ Has $10.29 Million Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 26.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,700 shares of the industrial products company’s stock after selling 47,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.23% of MSC Industrial Direct worth $10,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in shares of MSC Industrial Direct by 1,142.3% in 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 MSC Industrial Direct in the second quarter valued at about $26,000. Quest Partners LLC boosted its stake in shares of MSC Industrial Direct by 35,300.0% during the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 353 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of MSC Industrial Direct during the first quarter worth about $29,000. Finally, Bessemer Group Inc. increased its stake in shares of MSC Industrial Direct by 261.7% in the first quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock valued at $37,000 after buying an additional 280 shares during the period. Institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $84.60, for a total value of $413,271.00. Following the completion of the sale, the senior vice president now directly owns 12,897 shares of the company’s stock, valued at $1,091,086.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 18.80% of the stock is owned by insiders.

MSC Industrial Direct Stock Performance

Shares of MSM opened at $83.86 on Friday. The firm’s fifty day simple moving average is $82.02 and its two-hundred day simple moving average is $86.74. MSC Industrial Direct Co., Inc. has a 12 month low of $75.05 and a 12 month high of $105.77. 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 stock has a market capitalization 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 EPS for the quarter, hitting the consensus estimate of $1.33. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The business had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. During the same quarter last year, the firm posted $1.74 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. As a group, analysts predict that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current year.

MSC Industrial Direct Dividend Announcement

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

Analysts Set New Price Targets

MSM has been the topic of several recent research reports. Robert W. Baird cut 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 research report on Friday, June 14th. JPMorgan Chase & Co. decreased their price objective on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a 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 report on Friday, June 14th. Baird R W cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, StockNews.com lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note 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, the company currently has a consensus rating of “Hold” and an average price target of $90.20.

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.