Ridgewood Investments LLC Has $639,000 Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Ridgewood Investments LLC raised its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 2,183.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,420 shares of the industrial products company’s stock after buying an additional 7,095 shares during the period. Ridgewood Investments LLC’s holdings in MSC Industrial Direct were worth $639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of MSC Industrial Direct by 85.1% during the 2nd quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock valued at $216,772,000 after acquiring an additional 1,256,706 shares in the last quarter. Swedbank AB acquired a new stake in shares of MSC Industrial Direct during the first quarter valued at about $16,571,000. Allspring Global Investments Holdings LLC grew its holdings in shares of MSC Industrial Direct by 804.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 173,653 shares of the industrial products company’s stock worth $13,772,000 after purchasing an additional 154,454 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of MSC Industrial Direct by 1,715.2% in the second quarter. Renaissance Technologies LLC now owns 143,400 shares of the industrial products company’s stock valued at $11,373,000 after buying an additional 135,500 shares during the period. Finally, Capital Research Global Investors raised its holdings in 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 valued at $78,476,000 after buying an additional 100,000 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Activity at MSC Industrial Direct

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total transaction of $413,271.00. Following the completion of the sale, the senior vice president now owns 12,897 shares in the company, valued at approximately $1,091,086.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 18.80% of the stock is currently owned by corporate insiders.

MSC Industrial Direct Trading Down 0.1 %

Shares of MSM stock traded down $0.11 during trading hours on Friday, hitting $83.40. 383,352 shares of the company were exchanged, compared to its average volume of 557,873. The company has a 50 day simple moving average of $82.23 and a two-hundred day simple moving average of $85.95. The firm has a market cap of $4.68 billion, a P/E ratio of 16.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two 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 earnings per share for the quarter, meeting the consensus estimate of $1.33. The firm had revenue of $979.40 million during the quarter, compared to the consensus estimate of $979.10 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The business’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 earnings per share. Equities analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MSM shares. Loop Capital reduced their target price 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. KeyCorp downgraded MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. 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. JPMorgan Chase & Co. cut 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. Finally, StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, MSC Industrial Direct has a consensus 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.