Russell Investments Group Ltd. Sells 14,208 Shares of MSC Industrial Direct Co Inc (NYSE:MSM)

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Russell Investments Group Ltd. decreased its position in MSC Industrial Direct Co Inc (NYSE:MSM) by 9.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,935 shares of the industrial products company’s stock after selling 14,208 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.26% of MSC Industrial Direct worth $7,796,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in MSC Industrial Direct by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 488,133 shares of the industrial products company’s stock valued at $38,304,000 after acquiring an additional 14,052 shares during the period. Atria Investments LLC bought a new position in MSC Industrial Direct in the fourth quarter valued at about $920,000. Advisor Group Inc. lifted its holdings in MSC Industrial Direct by 46.5% in the fourth quarter. Advisor Group Inc. now owns 5,117 shares of the industrial products company’s stock valued at $402,000 after acquiring an additional 1,625 shares during the period. ProShare Advisors LLC lifted its holdings in MSC Industrial Direct by 4.2% in the fourth quarter. ProShare Advisors LLC now owns 207,421 shares of the industrial products company’s stock valued at $16,276,000 after acquiring an additional 8,414 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in MSC Industrial Direct by 66.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 75,417 shares of the industrial products company’s stock valued at $5,918,000 after acquiring an additional 30,060 shares during the period. 74.66% of the stock is currently owned by institutional investors.

MSM has been the topic of a number of recent research reports. KeyCorp increased their target price on MSC Industrial Direct from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday. Robert W. Baird raised their price objective on MSC Industrial Direct from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Stephens decreased their price objective on MSC Industrial Direct from $78.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, April 13th. Buckingham Research decreased their price objective on MSC Industrial Direct from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Zacks Investment Research raised MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.67.

NYSE:MSM opened at $65.37 on Friday. The company has a current ratio of 1.75, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co Inc has a 12-month low of $44.93 and a 12-month high of $79.87. The stock has a 50-day moving average price of $59.13 and a 200 day moving average price of $67.25. The stock has a market capitalization of $3.62 billion, a P/E ratio of 13.16 and a beta of 0.95.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, April 8th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.00. MSC Industrial Direct had a return on equity of 19.23% and a net margin of 8.05%. The firm had revenue of $786.10 million during the quarter, compared to analysts’ expectations of $792.26 million. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. On average, research analysts predict that MSC Industrial Direct Co Inc will post 4.09 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, April 13th. MSC Industrial Direct’s dividend payout ratio is currently 56.71%.

In related news, EVP Douglas E. Jones sold 3,697 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $221,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.75% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

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

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