California State Teachers Retirement System Has $6.13 Million Position in MSC Industrial Direct Company, Inc. $MSM

Key Points

• CalSTRS reduced its MSC Industrial Direct position by 4.1% in the second quarter, selling 2,198 shares and retaining 51,550 shares valued at approximately $6.13 million. Institutional investors collectively own 79.26% of the company.
• MSC Industrial Direct reported quarterly EPS of $1.43, beating estimates of $1.28, while revenue rose 7.8% year over year to $1.05 billion. The stock recently traded at $120.19, up 0.8%.
• Analyst sentiment is mixed, with three Buy ratings and five Holds; the consensus rating is Hold and the average price target is $123.43, although several firms recently raised targets to between $145 and $155.

California State Teachers Retirement System cut its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 51,550 shares of the industrial products company's stock after selling 2,198 shares during the quarter. California State Teachers Retirement System owned about 0.09% of MSC Industrial Direct worth $6,131,873 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Elevation Wealth Partners LLC increased its position in shares of MSC Industrial Direct by 89.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. First Horizon Corp lifted its holdings in MSC Industrial Direct by 101.0% in the 1st quarter. First Horizon Corp now owns 400 shares of the industrial products company's stock worth $37,000 after purchasing an additional 201 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in MSC Industrial Direct by 42.4% during the 4th quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 153 shares during the last quarter. Allworth Financial LP lifted its stake in shares of MSC Industrial Direct by 25.9% during the 4th quarter. Allworth Financial LP now owns 628 shares of the industrial products company's stock worth $53,000 after purchasing an additional 129 shares during the last quarter. Finally, Covestor Ltd lifted its position in MSC Industrial Direct by 24.1% during the fourth quarter. Covestor Ltd now owns 1,329 shares of the industrial products company's stock valued at $112,000 after purchasing an additional 258 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Stock Up 0.8%

MSM traded up $0.92 during trading on Tuesday, hitting $120.19. The stock had a trading volume of 309,796 shares, compared to its average volume of 709,244. The stock has a 50 day simple moving average of $122.03 and a two-hundred day simple moving average of $109.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The company has a market capitalization of $6.71 billion, a PE ratio of 29.03 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.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.28 by $0.15. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $1.08 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts predict that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Rothschild & Co Redburn started 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. DA Davidson upped their price objective on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Wolfe Research reissued a "peer perform" rating on shares of MSC Industrial Direct in a research note on Tuesday. KeyCorp raised their price target on MSC Industrial Direct from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Finally, Zacks Research lowered shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold 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 $123.43.

MSC Industrial Direct 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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