Bank of America Corp DE Has $43.60 Million Stock Position in MSC Industrial Direct Company, Inc. $MSM

Key Points

• Bank of America increased its MSC Industrial Direct stake by 19.5% in the second quarter, acquiring 59,877 additional shares. Its position totaled 366,572 shares, valued at approximately $43.6 million, or 0.66% of the company.
• Institutional investors own approximately 79.26% of MSC Industrial Direct, with several major firms increasing their holdings and Norges Bank establishing a new stake.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $123.43 price target. MSC Industrial Direct recently exceeded quarterly earnings and revenue estimates, reporting $1.43 in EPS and $1.05 billion in revenue.

Bank of America Corp DE increased its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 19.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 366,572 shares of the industrial products company's stock after acquiring an additional 59,877 shares during the quarter. Bank of America Corp DE owned about 0.66% of MSC Industrial Direct worth $43,604,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Auto Owners Insurance Co increased its holdings in MSC Industrial Direct by 12,181.8% in the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company's stock valued at $273,718,000 after buying an additional 3,228,170 shares during the period. First Trust Advisors LP lifted its holdings in shares of MSC Industrial Direct by 20.9% during the 1st quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company's stock worth $163,607,000 after acquiring an additional 306,436 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MSC Industrial Direct by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,357,419 shares of the industrial products company's stock worth $125,240,000 after acquiring an additional 14,484 shares during the period. Geode Capital Management LLC boosted its position in shares of MSC Industrial Direct by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,055,261 shares of the industrial products company's stock worth $88,761,000 after acquiring an additional 22,602 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of MSC Industrial Direct during the 4th quarter worth approximately $59,380,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MSM shares. Rothschild & Co Redburn assumed coverage on MSC Industrial Direct in a research note on Monday, July 13th. They set a "buy" rating and a $155.00 target price for the company. Wall Street Zen upgraded MSC Industrial Direct from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. DA Davidson boosted their price target on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. KeyCorp upped their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Finally, Zacks Research lowered MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of "Hold" and a consensus price target of $123.43.

MSC Industrial Direct Stock Performance

NYSE MSM opened at $121.51 on Tuesday. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 29.35 and a beta of 0.83. MSC Industrial Direct Company, Inc. has a twelve month low of $78.80 and a twelve month high of $130.46. The stock has a fifty day simple moving average of $122.02 and a 200 day simple moving average of $110.54. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.06.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.15. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 EPS. Sell-side analysts expect that MSC Industrial Direct Company, Inc. will post 4.51 EPS for the current year.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc NYSE: MSM is a distributor of metalworking and maintenance, repair and operations (MRO) supplies. The company serves industrial and institutional customers by helping them source the products, services and expertise needed to operate and maintain manufacturing facilities, equipment and workplaces.

Its product offerings include cutting tools, abrasives, fasteners, hand and power tools, safety equipment, material-handling products, janitorial supplies, plumbing and electrical items, and other industrial consumables.

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