Northern Trust Corp Sells 14,661 Shares of MSC Industrial Direct Company, Inc. $MSM

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 holdings in shares of 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 Securities and Exchange Commission (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 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MSM. Clearstead Trust LLC purchased a new stake in MSC Industrial Direct in the 1st quarter worth about $25,000. Investment Management Corp VA ADV lifted its stake in shares of MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after buying an additional 268 shares in the last quarter. Neo Ivy Capital Management bought a new position in MSC Industrial Direct in the 1st quarter worth approximately $32,000. Farther Finance Advisors LLC raised 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 acquiring an additional 537 shares during the period. Finally, GAMMA Investing LLC raised its holdings in MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 218 shares during the period. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Trading Up 2.6%

MSM traded up $2.31 during midday trading on Thursday, reaching $92.60. 490,291 shares of the company's stock traded hands, compared to its average volume of 370,639. The firm has a fifty day moving average of $88.27 and a two-hundred day moving average of $82.05. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $92.68. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 26.16 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. During the same quarter in the prior year, the company earned $1.33 EPS. The business's revenue was down .8% compared to the same quarter last year. On average, equities analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were paid a dividend of $0.85 per share. The ex-dividend date was Wednesday, July 9th. This represents a $3.40 annualized dividend and a yield of 3.7%. MSC Industrial Direct's dividend payout ratio is currently 96.05%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Loop Capital lifted their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Robert W. Baird lifted their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Stephens increased their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and raised their price target for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Finally, Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, MSC Industrial Direct currently has an average rating of "Moderate Buy" and a consensus price target of $90.33.

Insiders Place Their Bets

In other news, SVP Kimberly Shacklett sold 2,130 shares of the 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 directly owned 14,657 shares of the company's stock, valued at $1,348,444. This represents a 12.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.30% of the stock is currently owned by company insiders.

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.