Rockland Trust Co. Purchases 469 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Rockland Trust Co. increased its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,243 shares of the industrial products company’s stock after purchasing an additional 469 shares during the quarter. Rockland Trust Co.’s holdings in MSC Industrial Direct were worth $968,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MSM. Blue Trust Inc. grew its stake in shares of 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 acquired a new stake in MSC Industrial Direct in the second quarter valued at $26,000. Quest Partners LLC grew its position in shares of MSC Industrial Direct by 35,300.0% in 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 during the period. Future Financial Wealth Managment LLC acquired a new position in shares of MSC Industrial Direct during the 1st quarter worth about $29,000. Finally, Bessemer Group Inc. raised its holdings in shares of MSC Industrial Direct by 261.7% in the 1st quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 280 shares during the period. Institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 4,885 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,091,086.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MSM shares. Loop Capital cut their price objective on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Robert W. Baird dropped their price objective on shares of 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. dropped 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. 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. Finally, StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $90.20.

MSC Industrial Direct Price Performance

Shares of MSM traded down $0.11 during mid-day trading on Friday, reaching $83.40. The company had a trading volume of 383,352 shares, compared to its average volume of 557,873. The company’s 50 day simple moving average is $82.23 and its 200 day simple moving average is $85.95. The company has a market capitalization of $4.68 billion, a price-to-earnings 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 1-year low of $75.05 and a 1-year high of $105.77.

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

MSC Industrial Direct 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.