Clearbridge Investments LLC Sells 70,050 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Clearbridge Investments LLC lessened its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 26.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 197,408 shares of the industrial products company’s stock after selling 70,050 shares during the period. Clearbridge Investments LLC’s holdings in MSC Industrial Direct were worth $15,656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors grew its stake in shares of MSC Industrial Direct by 14.8% in the 4th quarter. Capital Research Global Investors now owns 775,000 shares of the industrial products company’s stock worth $78,476,000 after buying an additional 100,000 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in MSC Industrial Direct by 35.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 11,576 shares of the industrial products company’s stock worth $1,172,000 after acquiring an additional 3,037 shares in the last quarter. Azimuth Capital Investment Management LLC grew its stake in shares of MSC Industrial Direct by 1.3% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 49,853 shares of the industrial products company’s stock worth $5,048,000 after acquiring an additional 655 shares during the last quarter. Bragg Financial Advisors Inc increased its holdings in shares of MSC Industrial Direct by 1.0% during the fourth quarter. Bragg Financial Advisors Inc now owns 206,912 shares of the industrial products company’s stock valued at $20,952,000 after acquiring an additional 2,117 shares in the last quarter. Finally, Quarry LP bought a new position in shares of MSC Industrial Direct during the fourth quarter valued at $40,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM opened at $83.40 on Friday. The firm’s 50-day moving average price is $82.31 and its 200-day moving average price is $86.04. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $105.77. The company has a market cap of $4.68 billion, a PE ratio of 16.19 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (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 company had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. During the same quarter last year, the company posted $1.74 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current year.

Insider Activity

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $84.60, for a total value of $413,271.00. Following the transaction, the senior vice president now directly owns 12,897 shares of the company’s stock, valued at approximately $1,091,086.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 18.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MSM. JPMorgan Chase & Co. dropped their price target on shares of 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 cut their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Robert W. Baird reduced their price target on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. StockNews.com cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Finally, KeyCorp downgraded MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.20.

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.