TD Asset Management Inc Cuts Position in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Key Points

• TD Asset Management Inc reduced its holdings in MSC Industrial Direct by 2.4%, now owning about 116,575 shares valued at approximately $9.05 million.
• Insider trading was noted as SVP Kimberly Shacklett sold 2,130 shares for $195,960, decreasing her ownership by 12.69%.
• Multiple analysts have upgraded their ratings and price targets for MSC Industrial Direct, with a current consensus target price of $90.33 reflecting a "Moderate Buy" rating.

TD Asset Management Inc trimmed its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,575 shares of the industrial products company's stock after selling 2,890 shares during the period. TD Asset Management Inc owned approximately 0.21% of MSC Industrial Direct worth $9,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake 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 worth $53,000 after acquiring an additional 218 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of MSC Industrial Direct by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company's stock worth $463,000 after purchasing an additional 337 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of MSC Industrial Direct by 4.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock valued at $705,000 after purchasing an additional 388 shares during the last quarter. Norges Bank bought a new position in shares of MSC Industrial Direct during the 4th quarter valued at approximately $34,735,000. Finally, 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 buying an additional 537 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of the firm'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 in the company, valued at approximately $1,348,444. This trade represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 18.30% of the company's stock.

Analysts Set New Price Targets

MSM has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Robert W. Baird increased their price objective 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. Finally, Stephens boosted their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MSC Industrial Direct has a consensus rating of "Moderate Buy" and a consensus target price of $90.33.

MSC Industrial Direct Trading Down 0.5%

NYSE MSM opened at $86.60 on Friday. The stock has a market cap of $4.82 billion, a PE ratio of 24.46 and a beta of 0.87. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $92.68. The company's 50-day moving average price is $84.93 and its 200-day moving average price is $80.88. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

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

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio is currently 96.05%.

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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