MSC Industrial Direct Company, Inc. $MSM Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in MSC Industrial Direct by 3.4%, selling 14,661 shares and retaining ownership of 415,981 shares valued at approximately $32.3 million.
• Several analysts have recently upgraded their target prices for MSC Industrial Direct, with estimates ranging from $84.00 to $95.00, indicating a generally positive outlook for the stock.
• The company has declared a quarterly dividend of $0.85, representing an annualized yield of 3.8%, while its dividend payout ratio stands at 96.05%.

Northern Trust Corp trimmed its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 415,981 shares of the industrial products company's stock after selling 14,661 shares during the period. Northern Trust Corp owned about 0.75% of MSC Industrial Direct worth $32,309,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in MSM. American Century Companies Inc. lifted its position in shares of MSC Industrial Direct by 6.8% during the first quarter. American Century Companies Inc. now owns 3,650,221 shares of the industrial products company's stock worth $283,513,000 after purchasing an additional 231,961 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in MSC Industrial Direct by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,781,503 shares of the industrial products company's stock worth $138,369,000 after buying an additional 88,247 shares in the last quarter. Boston Partners lifted its holdings in MSC Industrial Direct by 22.9% during the 1st quarter. Boston Partners now owns 1,762,248 shares of the industrial products company's stock worth $136,867,000 after buying an additional 327,833 shares in the last quarter. Invesco Ltd. boosted its position in MSC Industrial Direct by 2.8% in the 1st quarter. Invesco Ltd. now owns 1,240,418 shares of the industrial products company's stock valued at $96,343,000 after buying an additional 33,607 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of MSC Industrial Direct by 445.4% in the first quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company's stock worth $60,567,000 after acquiring an additional 636,827 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Analyst Ratings Changes

MSM has been the subject of a number of recent research reports. Loop Capital lifted their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 price objective on MSC Industrial Direct in a research note on Tuesday, May 27th. Stephens boosted their price objective 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. Robert W. Baird raised their target price on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $73.00 to $89.00 in a report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.33.

Insider Buying and Selling at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction 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 transaction, the senior vice president owned 14,657 shares of the company's stock, valued at $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 18.30% of the stock is currently owned by company insiders.

MSC Industrial Direct Stock Performance

MSC Industrial Direct stock traded up $0.89 during midday trading on Wednesday, hitting $90.11. 162,913 shares of the company's stock were exchanged, compared to its average volume of 587,284. 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 stock has a market cap of $5.02 billion, a price-to-earnings ratio of 25.44 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $92.68. The firm's 50 day simple moving average is $87.95 and its 200 day simple moving average is $81.91.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%.The company had revenue of $971.15 million during the quarter, compared to analysts' expectations of $969.72 million. During the same period last year, the firm earned $1.33 EPS. The firm's revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a $0.85 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 dividend on an annualized basis and a yield of 3.8%. MSC Industrial Direct's dividend payout ratio (DPR) is presently 96.05%.

MSC Industrial Direct Company 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.