Valley National Advisers Inc. Lowers Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Valley National Advisers Inc. cut its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,139 shares of the industrial products company’s stock after selling 913 shares during the period. Valley National Advisers Inc.’s holdings in MSC Industrial Direct were worth $3,021,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in MSC Industrial Direct by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,817,016 shares of the industrial products company’s stock worth $472,790,000 after purchasing an additional 197,193 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MSC Industrial Direct by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 829,779 shares of the industrial products company’s stock worth $84,024,000 after acquiring an additional 32,312 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of MSC Industrial Direct by 14.8% during the 4th quarter. Capital Research Global Investors now owns 775,000 shares of the industrial products company’s stock worth $78,476,000 after acquiring an additional 100,000 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of MSC Industrial Direct by 19.6% during the 3rd quarter. AQR Capital Management LLC now owns 769,908 shares of the industrial products company’s stock worth $75,566,000 after acquiring an additional 125,944 shares in the last quarter. Finally, 59 North Capital Management LP raised its holdings in shares of MSC Industrial Direct by 1.5% during the 3rd quarter. 59 North Capital Management LP now owns 719,911 shares of the industrial products company’s stock worth $70,659,000 after acquiring an additional 10,891 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Stock Down 1.9 %

Shares of MSM stock traded down $1.49 during mid-day trading on Wednesday, hitting $78.53. The stock had a trading volume of 541,366 shares, compared to its average volume of 534,044. MSC Industrial Direct Co., Inc. has a 12-month low of $75.05 and a 12-month high of $105.77. The firm has a market capitalization of $4.42 billion, a P/E ratio of 14.10 and a beta of 0.88. The firm’s 50-day moving average is $86.36 and its two-hundred day moving average is $93.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92.

MSC Industrial Direct (NYSE:MSM) last issued its 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 22.58% and a net margin of 7.89%. The business had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. During the same period in the prior year, the business earned $1.74 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, analysts predict that MSC Industrial Direct Co., Inc. will post 4.89 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio is 59.61%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Loop Capital decreased their price objective on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their target price on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday. KeyCorp downgraded MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Robert W. Baird cut their target price on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, Stephens reissued an “overweight” rating and set a $110.00 target price on shares of MSC Industrial Direct in a research report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, MSC Industrial Direct currently has an average rating of “Hold” and a consensus price target of $90.20.

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.