MSC Industrial Direct Company, Inc. (MSM) Stake Cut by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 137,500 shares of the industrial products company’s stock after selling 1,200 shares during the period. California Public Employees Retirement System’s holdings in MSC Industrial Direct Company were worth $14,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wexford Capital LP acquired a new position in shares of MSC Industrial Direct Company during the fourth quarter valued at approximately $416,000. Fred Alger Management Inc. acquired a new position in shares of MSC Industrial Direct Company during the fourth quarter valued at approximately $148,000. A.R.T. Advisors LLC acquired a new position in shares of MSC Industrial Direct Company during the fourth quarter valued at approximately $1,385,000. Texas Yale Capital Corp. acquired a new position in shares of MSC Industrial Direct Company during the fourth quarter valued at approximately $206,000. Finally, Bayesian Capital Management LP acquired a new position in shares of MSC Industrial Direct Company during the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Institutional Ownership by Quarter for MSC Industrial Direct Company (NYSE:MSM)

MSC Industrial Direct Company, Inc. (MSM) traded down 1.73% during mid-day trading on Tuesday, hitting $84.49. 118,102 shares of the company traded hands. MSC Industrial Direct Company, Inc. has a one year low of $67.74 and a one year high of $105.70. The company’s 50-day moving average is $86.03 and its 200-day moving average is $94.98. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 21.27 and a beta of 0.47.

MSC Industrial Direct Company (NYSE:MSM) last issued its earnings results on Thursday, April 6th. The industrial products company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. The business had revenue of $703.78 million for the quarter, compared to the consensus estimate of $697.85 million. MSC Industrial Direct Company had a net margin of 8.19% and a return on equity of 19.39%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. Analysts predict that MSC Industrial Direct Company, Inc. will post $4.03 EPS for the current year.

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MSM has been the topic of several analyst reports. Credit Suisse Group upgraded shares of MSC Industrial Direct Company from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $92.00 to $100.00 in a research note on Wednesday, April 19th. Raymond James Financial, Inc. upgraded shares of MSC Industrial Direct Company from a “market perform” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Wednesday, April 19th. KeyCorp restated a “sector weight” rating on shares of MSC Industrial Direct Company in a research note on Tuesday, April 4th. Zacks Investment Research upgraded shares of MSC Industrial Direct Company from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Saturday, April 8th. Finally, Barclays PLC restated a “sell” rating and set a $85.00 price target on shares of MSC Industrial Direct Company in a research note on Friday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $94.42.

About MSC Industrial Direct Company

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.

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