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

Bank of New York Mellon Corp lessened its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 11.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 705,551 shares of the industrial products company's stock after selling 87,633 shares during the period. Bank of New York Mellon Corp owned approximately 1.27% of MSC Industrial Direct worth $54,800,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, SVP Kimberly Shacklett sold 2,130 shares of the company's 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 completion of the transaction, the senior vice president owned 14,657 shares of the company's stock, valued at approximately $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 18.30% of the company's stock.

MSC Industrial Direct Trading Down 0.0%

Shares of NYSE:MSM traded down $0.01 during trading on Monday, reaching $90.38. The stock had a trading volume of 34,731 shares, compared to its average volume of 621,042. The business has a fifty day moving average price of $82.44 and a 200-day moving average price of $80.01. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5.03 billion, a P/E ratio of 25.62 and a beta of 0.87. 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 posted its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The company had revenue of $971.15 million during the quarter, compared to the consensus estimate of $969.72 million. During the same quarter in the prior year, the company posted $1.33 EPS. The company's quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is 96.05%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MSM shares. Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and lifted 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 shares of MSC Industrial Direct in a research report on Tuesday, May 27th. Stephens lifted 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. Finally, Robert W. Baird lifted their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MSC Industrial Direct presently has an average rating of "Moderate Buy" and a consensus target price 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.