Capital Fund Management S.A. purchased a new stake in MSC Industrial Direct Co. (NYSE:MSM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,000 shares of the company’s stock, valued at approximately $2,399,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IBM Retirement Fund raised its position in MSC Industrial Direct by 0.3% in the second quarter. IBM Retirement Fund now owns 4,785 shares of the company’s stock worth $338,000 after buying an additional 13 shares during the period. Bessemer Group Inc. raised its position in MSC Industrial Direct by 0.6% in the first quarter. Bessemer Group Inc. now owns 11,283 shares of the company’s stock worth $861,000 after buying an additional 66 shares during the period. Raymond James Trust N.A. raised its position in MSC Industrial Direct by 2.0% in the second quarter. Raymond James Trust N.A. now owns 3,931 shares of the company’s stock worth $277,000 after buying an additional 76 shares during the period. Lowe Brockenbrough & Co. Inc. raised its position in MSC Industrial Direct by 0.8% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 17,843 shares of the company’s stock worth $1,362,000 after buying an additional 145 shares during the period. Finally, Capstone Asset Management Co. raised its position in MSC Industrial Direct by 4.2% in the second quarter. Capstone Asset Management Co. now owns 5,153 shares of the company’s stock worth $364,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 78.44% of the company’s stock.
MSC Industrial Direct Co. (NYSE:MSM) traded up 1.72% during mid-day trading on Wednesday, hitting $74.10. The stock had a trading volume of 380,258 shares. The stock has a market cap of $4.55 billion, a P/E ratio of 19.98 and a beta of 0.70. The company has a 50 day moving average price of $72.96 and a 200 day moving average price of $73.54. MSC Industrial Direct Co. has a one year low of $54.19 and a one year high of $78.35.
A number of research firms recently issued reports on MSM. Wells Fargo & Co. reiterated a “hold” rating on shares of MSC Industrial Direct in a report on Sunday, September 4th. Credit Suisse Group AG began coverage on MSC Industrial Direct in a report on Saturday, June 18th. They issued a “sell” rating for the company. Zacks Investment Research lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Barclays PLC lifted their target price on MSC Industrial Direct from $64.00 to $66.00 and gave the company an “underweight” rating in a report on Thursday, July 7th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $78.00 price target (down from $80.00) on shares of MSC Industrial Direct in a report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. MSC Industrial Direct currently has a consensus rating of “Hold” and a consensus target price of $75.44.
In related news, SVP Steve Armstrong sold 3,732 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $73.35, for a total value of $273,742.20. Following the completion of the sale, the senior vice president now directly owns 16,144 shares in the company, valued at approximately $1,184,162.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 31.75% of the stock is owned by corporate insiders.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).
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