Bank of Montreal Can Buys Shares of 52,256 MSC Industrial Direct Co. (MSM)
Bank of Montreal Can bought a new position in MSC Industrial Direct Co. (NYSE:MSM) during the second quarter, Holdings Channel reports. The fund bought 52,256 shares of the company’s stock, valued at approximately $3,688,000.
A number of other hedge funds have also bought and sold shares of the company. Rafferty Asset Management LLC acquired a new stake in MSC Industrial Direct during the first quarter worth about $3,498,000. State Street Corp boosted its stake in MSC Industrial Direct by 1.2% in the first quarter. State Street Corp now owns 1,297,470 shares of the company’s stock worth $99,008,000 after buying an additional 14,803 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in MSC Industrial Direct by 38.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 93,300 shares of the company’s stock worth $7,120,000 after buying an additional 25,800 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in MSC Industrial Direct during the first quarter worth about $3,434,000. Finally, Willis Investment Counsel boosted its stake in MSC Industrial Direct by 3.1% in the first quarter. Willis Investment Counsel now owns 89,570 shares of the company’s stock worth $6,835,000 after buying an additional 2,730 shares during the last quarter. 78.44% of the stock is owned by institutional investors and hedge funds.
Shares of MSC Industrial Direct Co. (NYSE:MSM) traded down 0.45% during midday trading on Friday, reaching $72.88. The company’s stock had a trading volume of 326,863 shares. The firm has a 50-day moving average of $73.01 and a 200-day moving average of $73.52. MSC Industrial Direct Co. has a one year low of $54.19 and a one year high of $78.35. The stock has a market cap of $4.48 billion, a PE ratio of 19.65 and a beta of 0.70.
A number of analysts recently issued reports on the company. Wells Fargo & Co. reissued a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 4th. Credit Suisse Group AG initiated coverage on MSC Industrial Direct in a research report on Friday, August 19th. They set an “underperform” rating and a $65.00 price target for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $78.00 price target (down previously from $80.00) on shares of MSC Industrial Direct in a research report on Thursday, July 7th. Macquarie initiated coverage on MSC Industrial Direct in a research report on Thursday, August 25th. They set a “neutral” rating and a $80.00 price target for the company. Finally, Zacks Investment Research raised MSC Industrial Direct from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $75.44.
In other MSC Industrial Direct news, SVP Steve Armstrong sold 3,732 shares of MSC Industrial Direct stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $73.35, for a total value of $273,742.20. Following the completion of the sale, the senior vice president now directly owns 16,144 shares in the company, valued at $1,184,162.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 31.75% of the stock is owned by company insiders.
About MSC Industrial Direct
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).
Want to see what other hedge funds are holding MSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MSC Industrial Direct Co. (NYSE:MSM).
Receive News & Ratings for MSC Industrial Direct Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct Co. and related companies with MarketBeat.com's FREE daily email newsletter.