Russell Investments Group Ltd. Cuts Position in MSC Industrial Direct Co Inc (NYSE:MSM)

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Russell Investments Group Ltd. cut its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.’s holdings in MSC Industrial Direct were worth $7,796,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. O Shares Investment Advisers LLC increased its holdings in shares of MSC Industrial Direct by 1.4% in the 4th quarter. O Shares Investment Advisers LLC now owns 11,572 shares of the industrial products company’s stock valued at $908,000 after acquiring an additional 158 shares during the period. Texas Permanent School Fund increased its holdings in shares of MSC Industrial Direct by 0.6% in the 4th quarter. Texas Permanent School Fund now owns 30,811 shares of the industrial products company’s stock valued at $2,418,000 after acquiring an additional 177 shares during the period. State of Michigan Retirement System increased its holdings in shares of MSC Industrial Direct by 1.5% in the 4th quarter. State of Michigan Retirement System now owns 13,300 shares of the industrial products company’s stock valued at $1,044,000 after acquiring an additional 200 shares during the period. Advisory Services Network LLC increased its holdings in shares of MSC Industrial Direct by 4.0% in the 4th quarter. Advisory Services Network LLC now owns 7,746 shares of the industrial products company’s stock valued at $609,000 after acquiring an additional 300 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in MSC Industrial Direct by 20.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,783 shares of the industrial products company’s stock worth $140,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 74.66% of the company’s stock.

Several brokerages recently weighed in on MSM. Robert W. Baird boosted their target price 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. KeyCorp boosted their target price on MSC Industrial Direct from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stephens dropped their target price 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 dropped their target price 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, JPMorgan Chase & Co. boosted their price target on MSC Industrial Direct from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. MSC Industrial Direct currently has a consensus rating of “Hold” and an average price target of $69.67.

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

Shares of MSM stock opened at $65.37 on Friday. The stock has a market cap of $3.62 billion, a PE ratio of 13.16 and a beta of 0.95. The business has a 50-day simple moving average of $59.13 and a 200-day simple moving average of $67.25. The company has a quick ratio of 0.94, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co Inc has a 52-week low of $44.93 and a 52-week high of $79.87.

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

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were issued a $0.75 dividend. The ex-dividend date was Monday, April 13th. This represents a $3.00 annualized dividend and a dividend yield of 4.59%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 56.71%.

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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