Louisiana State Employees Retirement System Sells 200 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Louisiana State Employees Retirement System trimmed its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,900 shares of the industrial products company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in MSC Industrial Direct were worth $1,023,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MSM. Blue Trust Inc. boosted its position in shares of MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 297 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of MSC Industrial Direct during the first quarter valued at approximately $29,000. Bessemer Group Inc. lifted its position in shares of MSC Industrial Direct by 261.7% during the first quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 280 shares during the last quarter. GAMMA Investing LLC bought a new position in MSC Industrial Direct in the 4th quarter worth about $40,000. Finally, Quarry LP bought a new position in shares of MSC Industrial Direct during the 4th quarter worth $40,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Stock Down 1.0 %

Shares of NYSE:MSM opened at $82.21 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a 12-month low of $75.05 and a 12-month high of $105.77. The stock’s 50-day moving average price is $81.28 and its 200-day moving average price is $89.09. The stock has a market capitalization of $4.61 billion, a P/E ratio of 15.96 and a beta of 0.88.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.33. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The company had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. During the same quarter in the previous year, the company earned $1.74 earnings per share. MSC Industrial Direct’s quarterly revenue was down 7.1% on a year-over-year basis. On average, equities analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Tuesday, July 9th. MSC Industrial Direct’s payout ratio is 64.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Loop Capital cut their target price on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Robert W. Baird decreased their price objective on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Finally, KeyCorp cut shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $90.20.

Insider Transactions at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $84.60, for a total transaction of $413,271.00. Following the sale, the senior vice president now owns 12,897 shares of the company’s stock, valued at approximately $1,091,086.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.80% of the stock is currently owned by company insiders.

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.