Sei Investments Co. Buys 75,160 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Sei Investments Co. increased its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 57.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 205,283 shares of the industrial products company’s stock after purchasing an additional 75,160 shares during the period. Sei Investments Co.’s holdings in MSC Industrial Direct were worth $16,282,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sprucegrove Investment Management Ltd. grew its stake in MSC Industrial Direct by 7.1% during the second quarter. Sprucegrove Investment Management Ltd. now owns 240,220 shares of the industrial products company’s stock worth $19,052,000 after buying an additional 15,900 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of MSC Industrial Direct during the 2nd quarter worth approximately $201,000. Seven Eight Capital LP acquired a new stake in shares of MSC Industrial Direct during the 2nd quarter worth approximately $1,195,000. Blair William & Co. IL increased its stake in MSC Industrial Direct by 11.8% in the second quarter. Blair William & Co. IL now owns 5,100 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 539 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in MSC Industrial Direct by 10.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,085 shares of the industrial products company’s stock valued at $641,000 after purchasing an additional 747 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MSM shares. Stephens reaffirmed an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a report on Friday, June 14th. JPMorgan Chase & Co. reduced their price objective on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Loop Capital lowered their target price on 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. KeyCorp cut shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Finally, StockNews.com lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Six research 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 stock has a consensus rating of “Hold” and a consensus target price of $90.20.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $86.26 on Friday. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 16.75 and a beta of 0.86. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $82.16 and its 200-day moving average price is $86.44. MSC Industrial Direct Co., Inc. has a 12 month low of $75.05 and a 12 month high of $105.77.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, hitting 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 business had revenue of $979.40 million for the quarter, compared to the consensus estimate of $979.10 million. During the same period last year, the company earned $1.74 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. Equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current year.

Insider Transactions at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 4,885 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $84.60, for a total value of $413,271.00. Following the completion of the sale, the senior vice president now directly owns 12,897 shares in the company, valued at $1,091,086.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 18.80% of the stock is owned by company insiders.

MSC Industrial Direct Company 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.