Auto Owners Insurance Co Has $2.21 Million Stock Holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Auto Owners Insurance Co decreased its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 92.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,387 shares of the industrial products company's stock after selling 329,813 shares during the period. Auto Owners Insurance Co owned 0.05% of MSC Industrial Direct worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MSM. Raymond James Financial Inc. acquired a new stake in MSC Industrial Direct in the fourth quarter valued at approximately $4,871,000. Xponance Inc. grew its stake in MSC Industrial Direct by 6.1% in the fourth quarter. Xponance Inc. now owns 5,193 shares of the industrial products company's stock valued at $388,000 after acquiring an additional 298 shares during the period. Virtu Financial LLC acquired a new stake in MSC Industrial Direct in the fourth quarter valued at approximately $347,000. Sei Investments Co. grew its stake in MSC Industrial Direct by 7.5% in the fourth quarter. Sei Investments Co. now owns 246,741 shares of the industrial products company's stock valued at $18,429,000 after acquiring an additional 17,266 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of MSC Industrial Direct in the fourth quarter valued at approximately $680,000. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Stock Up 1.6%

MSM stock opened at $87.30 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 24.66 and a beta of 0.87. The business's 50 day moving average price is $83.95 and its two-hundred day moving average price is $80.58. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $92.68.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. The company had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. MSC Industrial Direct's revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm earned $1.33 EPS. As a group, analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be given a $0.85 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $3.40 annualized dividend and a yield of 3.89%. MSC Industrial Direct's dividend payout ratio is currently 96.05%.

Insider Buying and Selling

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $195,960.00. Following the completion of the transaction, the senior vice president owned 14,657 shares in the company, valued at $1,348,444. The trade was a 12.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MSM. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Robert W. Baird lifted their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $73.00 to $89.00 in a research report on Tuesday, May 27th. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research report on Tuesday, May 27th. Finally, Stephens raised their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MSC Industrial Direct presently has an average rating of "Moderate Buy" and an average price target of $90.33.

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.

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