King Luther Capital Management Corp Sells 200 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

King Luther Capital Management Corp decreased its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,065 shares of the industrial products company’s stock after selling 200 shares during the period. King Luther Capital Management Corp’s holdings in MSC Industrial Direct were worth $243,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in MSC Industrial Direct in the 2nd quarter worth about $201,000. Seven Eight Capital LP purchased a new position in shares of MSC Industrial Direct during the second quarter valued at approximately $1,195,000. Blair William & Co. IL lifted its position in MSC Industrial Direct by 11.8% during the second quarter. Blair William & Co. IL now owns 5,100 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 539 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in MSC Industrial Direct by 10.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,085 shares of the industrial products company’s stock worth $641,000 after purchasing an additional 747 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in MSC Industrial Direct by 1,715.2% in the 2nd quarter. Renaissance Technologies LLC now owns 143,400 shares of the industrial products company’s stock worth $11,373,000 after purchasing an additional 135,500 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kimberly Shacklett sold 4,885 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total transaction of $413,271.00. Following the sale, the senior vice president now directly owns 12,897 shares in the company, valued at approximately $1,091,086.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Stephens reaffirmed an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a research report on Friday, June 14th. JPMorgan Chase & Co. dropped their price objective on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Loop Capital reduced their target price on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Six investment analysts have rated the stock with a hold rating and one has assigned 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.

MSC Industrial Direct Stock Performance

MSM opened at $85.33 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 16.57 and a beta of 0.86. The company has a fifty day moving average of $82.11 and a 200 day moving average of $86.55. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $105.77.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results 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. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The firm had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. During the same period in the previous year, the firm posted $1.74 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current fiscal year.

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.