MSC Industrial Direct Company, Inc. (NYSE:MSM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 705,551 shares of the industrial products company's stock after selling 87,633 shares during the quarter. Bank of New York Mellon Corp owned 1.27% of MSC Industrial Direct worth $54,800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in MSC Industrial Direct by 47.1% during the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after acquiring an additional 218 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of MSC Industrial Direct by 6.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company's stock worth $463,000 after purchasing an additional 337 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in MSC Industrial Direct by 4.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock valued at $705,000 after buying an additional 388 shares in the last quarter. Norges Bank purchased a new stake in MSC Industrial Direct in the 4th quarter valued at approximately $34,735,000. Finally, Farther Finance Advisors LLC grew its holdings in MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after buying an additional 537 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Trading Down 2.2%

Shares of MSM stock traded down $1.94 during trading hours on Wednesday, hitting $86.54. 728,437 shares of the company were exchanged, compared to its average volume of 624,963. The firm has a fifty day moving average of $82.96 and a 200 day moving average of $80.17. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $92.68. The firm has a market cap of $4.82 billion, a PE ratio of 24.45 and a beta of 0.87.

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

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Wednesday, July 9th. MSC Industrial Direct's payout ratio is currently 96.05%.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $195,960.00. Following the transaction, the senior vice president directly owned 14,657 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Company insiders own 18.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MSM shares. Robert W. Baird boosted 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. Industrial Alliance Securities set a $89.00 target price on shares of MSC Industrial Direct in a report on Tuesday, May 27th. Loop Capital raised their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Wolfe Research raised shares of MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Finally, Stephens raised their target price on shares of 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 research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.33.

MSC Industrial Direct 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.