Xponance Inc. Sells 548 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Xponance Inc. cut its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 10.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,935 shares of the industrial products company’s stock after selling 548 shares during the period. Xponance Inc.’s holdings in MSC Industrial Direct were worth $391,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MSM. Blue Trust Inc. boosted its position in MSC Industrial Direct by 1,142.3% in the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock valued at $26,000 after buying an additional 297 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of MSC Industrial Direct in the 2nd quarter valued at $26,000. Quest Partners LLC boosted its holdings in shares of MSC Industrial Direct by 35,300.0% during the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 353 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in MSC Industrial Direct in the 1st quarter worth about $29,000. Finally, Bessemer Group Inc. increased its stake in shares of MSC Industrial Direct by 261.7% in the first quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock valued at $37,000 after buying an additional 280 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Stephens reissued an “overweight” rating and set a $110.00 target price on shares of MSC Industrial Direct in a report on Friday, June 14th. JPMorgan Chase & Co. decreased their price objective 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. StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Robert W. Baird decreased their price target 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, Loop Capital reduced their target price on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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 the business’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 completion of the sale, the senior vice president now directly 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 is accessible through this link. Insiders own 18.80% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $86.06 on Tuesday. The firm has a 50 day moving average of $82.28 and a 200-day moving average of $86.15. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 16.71 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 Co., Inc. has a 52 week low of $75.05 and a 52 week high of $105.77.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $979.10 million. During the same period last year, the company posted $1.74 earnings per share. The business’s quarterly revenue was down 7.1% on a year-over-year basis. On average, equities analysts forecast that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share 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.