Pacer Advisors Inc. Has $65.58 Million Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Pacer Advisors Inc. decreased its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 7.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 826,866 shares of the industrial products company’s stock after selling 64,293 shares during the quarter. Pacer Advisors Inc. owned 1.47% of MSC Industrial Direct worth $65,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in 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 valued at $26,000 after buying an additional 297 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of MSC Industrial Direct during the second quarter valued at approximately $26,000. Quest Partners LLC lifted its position in shares of MSC Industrial Direct by 35,300.0% in the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 353 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in MSC Industrial Direct in the 1st quarter worth approximately $29,000. Finally, Bessemer Group Inc. grew its position in 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 purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Down 2.7 %

MSM opened at $83.86 on Friday. The company has a market capitalization of $4.71 billion, a PE ratio of 16.28 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $105.77. The business has a 50-day moving average of $82.02 and a 200-day moving average of $86.74.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, meeting 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 period in the previous year, the company earned $1.74 earnings per share. The company’s revenue was down 7.1% compared to the same quarter last year. Equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Baird R W lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. 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 research report on Wednesday, July 3rd. KeyCorp downgraded MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Loop Capital reduced their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Finally, StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.20.

Insiders Place Their Bets

In other news, SVP Kimberly Shacklett sold 4,885 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 12,897 shares in the company, valued at approximately $1,091,086.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 18.80% of the company’s stock.

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.