Synergy Asset Management LLC Acquires Shares of 24,318 MSC Industrial Direct Company, Inc. $MSM

Key Points

• Synergy Asset Management LLC acquired 24,318 shares of MSC Industrial Direct, valued at approximately $2,068,000, during the second quarter.
• Analysts have varied opinions on MSC's stock, with target prices ranging from $74.00 to $95.00, and an average rating of "Moderate Buy".
• Company insider Kimberly Shacklett sold 2,130 shares, reducing her stake by 12.69%, indicating potential selling pressure among insiders.

Synergy Asset Management LLC acquired a new stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,318 shares of the industrial products company's stock, valued at approximately $2,068,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in MSC Industrial Direct during the first quarter valued at approximately $25,000. Investment Management Corp VA ADV raised its position in MSC Industrial Direct by 207.8% during the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 268 shares during the period. Neo Ivy Capital Management purchased a new stake in MSC Industrial Direct during the first quarter valued at approximately $32,000. Farther Finance Advisors LLC raised its position in MSC Industrial Direct by 895.0% during the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 537 shares during the period. Finally, 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 valued at $53,000 after purchasing an additional 218 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total value 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MSM has been the topic of a number of recent research reports. Loop Capital upped their price objective 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. Stephens upped their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Robert W. Baird upped their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Zacks Research cut MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.33.

MSC Industrial Direct Trading Up 0.8%

MSM opened at $91.94 on Friday. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 25.97 and a beta of 0.95. The stock's 50 day moving average price is $89.42 and its 200-day moving average price is $83.72. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $94.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92.

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, 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 company had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. During the same quarter in the prior year, the firm earned $1.33 earnings per share. MSC Industrial Direct's revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

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.

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