Tower Research Capital LLC TRC increased its stake in shares of MSC Industrial Direct Co. (NYSE:MSM) by 971.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,954 shares of the company’s stock after buying an additional 3,585 shares during the period. Tower Research Capital LLC TRC’s holdings in MSC Industrial Direct were worth $279,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MSM. PNC Financial Services Group Inc. boosted its stake in shares of MSC Industrial Direct by 249.1% in the second quarter. PNC Financial Services Group Inc. now owns 2,063 shares of the company’s stock valued at $146,000 after buying an additional 1,472 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of MSC Industrial Direct during the second quarter valued at about $148,000. LS Investment Advisors LLC boosted its stake in shares of MSC Industrial Direct by 71.2% in the second quarter. LS Investment Advisors LLC now owns 2,968 shares of the company’s stock valued at $209,000 after buying an additional 1,234 shares in the last quarter. King Wealth Management Group LLC bought a new stake in shares of MSC Industrial Direct during the first quarter valued at about $229,000. Finally, AMP Capital Investors Ltd bought a new stake in shares of MSC Industrial Direct during the first quarter valued at about $259,000. 78.44% of the stock is owned by institutional investors.

MSC Industrial Direct Co. (NYSE:MSM) opened at 71.37 on Thursday. The firm has a 50-day moving average of $73.04 and a 200-day moving average of $73.50. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 19.24 and a beta of 0.74. MSC Industrial Direct Co. has a one year low of $54.19 and a one year high of $78.35.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 6th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. The company earned $727.50 million during the quarter. MSC Industrial Direct had a net margin of 8.03% and a return on equity of 16.67%. MSC Industrial Direct’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. Analysts anticipate that MSC Industrial Direct Co. will post $3.73 EPS for the current year.

Several brokerages have recently issued reports on MSM. Credit Suisse Group AG began coverage on shares of MSC Industrial Direct in a research note on Saturday, June 18th. They set a “sell” rating for the company. Wells Fargo & Co. reissued a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 4th. Barclays PLC boosted their price objective on shares of MSC Industrial Direct from $64.00 to $66.00 and gave the company an “underweight” rating in a research note on Thursday, July 7th. Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $78.00 price target (down from $80.00) on shares of MSC Industrial Direct in a research report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $75.44.

In related news, SVP Steve Armstrong sold 3,732 shares of MSC Industrial Direct stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $73.35, for a total transaction of $273,742.20. Following the completion of the transaction, the senior vice president now directly owns 16,144 shares of the company’s stock, valued at approximately $1,184,162.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.75% of the company’s stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).

5 Day Chart for NYSE:MSM

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