Oppenheimer Asset Management Inc. Trims Holdings in MSC Industrial Direct Co Inc (MSM)

Oppenheimer Asset Management Inc. cut its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,844 shares of the industrial products company’s stock after selling 1,950 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.28% of MSC Industrial Direct worth $12,079,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. QS Investors LLC boosted its holdings in MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 8 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after buying an additional 8 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of MSC Industrial Direct by 0.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,882 shares of the industrial products company’s stock valued at $592,000 after buying an additional 22 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of MSC Industrial Direct by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,580 shares of the industrial products company’s stock valued at $566,000 after buying an additional 29 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of MSC Industrial Direct by 2.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,608 shares of the industrial products company’s stock valued at $310,000 after buying an additional 77 shares in the last quarter. 75.57% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on MSM. TheStreet upgraded shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a research note on Tuesday, November 28th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Wednesday, September 27th. BMO Capital Markets increased their price objective on shares of MSC Industrial Direct from $83.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, November 1st. Susquehanna Bancshares began coverage on shares of MSC Industrial Direct in a research note on Monday, September 25th. They issued a “neutral” rating and a $77.00 price objective for the company. Finally, KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $88.17.

Shares of MSC Industrial Direct Co Inc (NYSE MSM) traded down $0.62 during trading on Thursday, hitting $89.46. 304,500 shares of the company were exchanged, compared to its average volume of 618,762. The firm has a market cap of $5,040.00, a PE ratio of 22.30, a P/E/G ratio of 1.76 and a beta of 0.66. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.16. MSC Industrial Direct Co Inc has a 1-year low of $65.42 and a 1-year high of $105.70.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $745.80 million. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.02 EPS. equities analysts predict that MSC Industrial Direct Co Inc will post 4.45 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.45. MSC Industrial Direct’s dividend payout ratio (DPR) is 47.52%.

In related news, EVP Steven N. Baruch sold 5,762 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $81.25, for a total transaction of $468,162.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mitchell Jacobson sold 33,866 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $82.39, for a total transaction of $2,790,219.74. Following the sale, the director now owns 35,932 shares of the company’s stock, valued at approximately $2,960,437.48. The disclosure for this sale can be found here. Insiders have sold a total of 225,541 shares of company stock valued at $18,264,812 in the last quarter. 31.28% of the stock is currently owned by corporate insiders.

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MSC Industrial Direct Company Profile

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.

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

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