Municipal Employees Retirement System of Michigan lowered its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 15.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,400 shares of the industrial products company’s stock after selling 3,290 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in MSC Industrial Direct were worth $1,496,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in MSC Industrial Direct by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,450,313 shares of the industrial products company’s stock worth $457,315,000 after buying an additional 37,928 shares during the period. BlackRock Inc. increased its position in MSC Industrial Direct by 7,681.5% in the first quarter. BlackRock Inc. now owns 3,725,557 shares of the industrial products company’s stock valued at $382,836,000 after buying an additional 3,677,680 shares during the last quarter. FMR LLC increased its position in MSC Industrial Direct by 72.5% in the first quarter. FMR LLC now owns 3,074,574 shares of the industrial products company’s stock valued at $315,943,000 after buying an additional 1,292,581 shares during the last quarter. State Street Corp increased its position in MSC Industrial Direct by 1.7% in the first quarter. State Street Corp now owns 1,203,471 shares of the industrial products company’s stock valued at $123,670,000 after buying an additional 20,473 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in MSC Industrial Direct by 35.6% in the first quarter. AQR Capital Management LLC now owns 900,428 shares of the industrial products company’s stock valued at $92,528,000 after buying an additional 236,604 shares during the last quarter. Institutional investors and hedge funds own 76.91% of the company’s stock.

Shares of MSC Industrial Direct Company, Inc. (NYSE MSM) opened at 70.95 on Friday. The firm’s 50-day moving average is $79.96 and its 200-day moving average is $91.87. MSC Industrial Direct Company, Inc. has a one year low of $69.72 and a one year high of $105.70. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 17.69 and a beta of 0.50.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.09. The business had revenue of $743.90 million during the quarter, compared to analysts’ expectations of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. Equities research analysts forecast that MSC Industrial Direct Company, Inc. will post $3.98 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, July 14th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 45.11%.

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A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Saturday, April 8th. Credit Suisse Group upgraded shares of MSC Industrial Direct from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $92.00 to $100.00 in a research report on Wednesday, April 19th. Raymond James Financial, Inc. upgraded shares of MSC Industrial Direct from a “market perform” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, April 19th. J P Morgan Chase & Co assumed coverage on shares of MSC Industrial Direct in a report on Friday, June 2nd. They issued an “overweight” rating and a $91.00 price objective for the company. Finally, Stifel Nicolaus restated a “hold” rating and issued a $88.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. MSC Industrial Direct currently has an average rating of “Hold” and a consensus target price of $90.85.

In other MSC Industrial Direct news, Director Philip Peller acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was acquired at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now directly owns 2,422 shares of the company’s stock, valued at $174,384. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 31.28% of the stock is owned by insiders.

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.

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

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