Public Employees Retirement System of Ohio Sells 7,841 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Public Employees Retirement System of Ohio lowered its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 9.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 73,069 shares of the industrial products company’s stock after selling 7,841 shares during the period. Public Employees Retirement System of Ohio’s holdings in MSC Industrial Direct were worth $7,091,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in MSC Industrial Direct by 14.4% in the 4th quarter. SG Americas Securities LLC now owns 5,799 shares of the industrial products company’s stock valued at $587,000 after acquiring an additional 732 shares in the last quarter. Raymond James & Associates raised its stake in shares of MSC Industrial Direct by 1.6% in the fourth quarter. Raymond James & Associates now owns 100,843 shares of the industrial products company’s stock valued at $10,211,000 after purchasing an additional 1,600 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in MSC Industrial Direct by 3.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 24,395 shares of the industrial products company’s stock worth $2,470,000 after purchasing an additional 852 shares during the period. Ritholtz Wealth Management boosted its stake in MSC Industrial Direct by 48.9% during the fourth quarter. Ritholtz Wealth Management now owns 5,377 shares of the industrial products company’s stock worth $545,000 after buying an additional 1,767 shares in the last quarter. Finally, Oak Thistle LLC increased its holdings in MSC Industrial Direct by 38.8% in the 4th quarter. Oak Thistle LLC now owns 14,369 shares of the industrial products company’s stock valued at $1,455,000 after buying an additional 4,017 shares during the period. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock traded up $0.16 during midday trading on Tuesday, reaching $88.32. The company had a trading volume of 10,284 shares, compared to its average volume of 549,755. 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 fifty day simple moving average of $82.56 and a 200 day simple moving average of $91.39. MSC Industrial Direct Co., Inc. has a 1-year low of $75.05 and a 1-year high of $105.77. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 17.12 and a beta of 0.88.

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, meeting 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 company had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. During the same period last year, the firm earned $1.74 EPS. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $3.32 annualized dividend and a yield of 3.76%. MSC Industrial Direct’s dividend payout ratio is currently 64.47%.

Insider Buying and Selling at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, July 17th. The shares were 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 sale was disclosed in a filing with the SEC, 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 research firms have recently commented on MSM. StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Loop Capital cut their target price on 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. Baird R W downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Stephens reissued an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. reduced their price objective on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.