Squarepoint Ops LLC Sells 110,863 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Squarepoint Ops LLC cut its MSC Industrial Direct stake by 87.9% in the second quarter, selling 110,863 shares and retaining 15,317 shares worth approximately $1.82 million.
• Institutional ownership remains high at 79.26%, with several major investors—including Auto Owners Insurance, First Trust Advisors, and Norges Bank—adding to or initiating positions.
• Analysts maintain a generally cautious outlook: MSC Industrial Direct has an average “Hold” rating and a $123.43 price target, despite the company beating quarterly earnings and revenue estimates.

Squarepoint Ops LLC reduced its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 87.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,317 shares of the industrial products company's stock after selling 110,863 shares during the period. Squarepoint Ops LLC's holdings in MSC Industrial Direct were worth $1,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Auto Owners Insurance Co grew its holdings in MSC Industrial Direct by 12,181.8% during the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company's stock worth $273,718,000 after acquiring an additional 3,228,170 shares during the period. First Trust Advisors LP lifted its stake in shares of MSC Industrial Direct by 20.9% in the 1st quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company's stock valued at $163,607,000 after purchasing an additional 306,436 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of MSC Industrial Direct by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,357,419 shares of the industrial products company's stock worth $125,240,000 after purchasing an additional 14,484 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of MSC Industrial Direct by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,055,261 shares of the industrial products company's stock worth $88,761,000 after purchasing an additional 22,602 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth $59,380,000. 79.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. KeyCorp upped their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Rothschild & Co Redburn started coverage on MSC Industrial Direct in a research report on Monday, July 13th. They set a "buy" rating and a $155.00 target price for the company. Wolfe Research initiated coverage on MSC Industrial Direct in a research note on Tuesday. They issued a "peer perform" rating for the company. Jefferies Financial Group set a $130.00 price target on shares of MSC Industrial Direct in a research report on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of MSC Industrial Direct from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $123.43.

MSC Industrial Direct Stock Up 0.4%

Shares of MSC Industrial Direct stock opened at $119.75 on Wednesday. MSC Industrial Direct Company, Inc. has a 1 year low of $78.80 and a 1 year high of $130.46. The business has a 50-day moving average of $122.02 and a two-hundred day moving average of $109.76. The company has a market capitalization of $6.69 billion, a P/E ratio of 28.92 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72.

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

About MSC Industrial Direct

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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