Algert Global LLC Makes New Investment in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Algert Global LLC purchased a new position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,536 shares of the industrial products company’s stock, valued at approximately $360,000.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after buying an additional 297 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of MSC Industrial Direct during the second quarter worth $26,000. Quest Partners LLC lifted its position in 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 $29,000. Finally, Bessemer Group Inc. increased its holdings 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. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Trading Down 2.5 %

NYSE MSM opened at $80.19 on Wednesday. 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 50 day moving average of $81.93 and a 200-day moving average of $85.54. The company has a market cap of $4.50 billion, a PE ratio of 15.57 and a beta of 0.86.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MSM shares. Loop Capital cut their price target on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price target 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. Robert W. Baird decreased their price target 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. Stephens reissued an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a research report on Friday, June 14th. Finally, KeyCorp downgraded shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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 MSC Industrial Direct stock in a transaction dated 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 transaction, the senior vice president now owns 12,897 shares of the company’s stock, valued at $1,091,086.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 18.80% 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.