Trexquant Investment LP decreased its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 34.5% during the second quarter, Holdings Channel reports. The fund owned 7,728 shares of the industrial products company’s stock after selling 4,079 shares during the period. Trexquant Investment LP’s holdings in MSC Industrial Direct were worth $664,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MSM. State Street Corp boosted its stake 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. SRS Capital Advisors Inc. boosted its stake in MSC Industrial Direct by 6.9% in the first quarter. SRS Capital Advisors Inc. now owns 3,393 shares of the industrial products company’s stock valued at $348,000 after buying an additional 218 shares during the last quarter. World Asset Management Inc boosted its stake in MSC Industrial Direct by 8.5% in the first quarter. World Asset Management Inc now owns 2,933 shares of the industrial products company’s stock valued at $301,000 after buying an additional 231 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in MSC Industrial Direct by 4.9% in the first quarter. Russell Investments Group Ltd. now owns 100,408 shares of the industrial products company’s stock valued at $10,319,000 after buying an additional 4,720 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its stake in MSC Industrial Direct by 1,625.4% in the first quarter. Cookson Peirce & Co. Inc. now owns 49,000 shares of the industrial products company’s stock valued at $5,035,000 after buying an additional 46,160 shares during the last quarter. 76.83% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Company, Inc. (NYSE MSM) opened at 69.73 on Friday. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 17.39 and a beta of 0.50. MSC Industrial Direct Company, Inc. has a 1-year low of $68.43 and a 1-year high of $105.70. The firm’s 50-day moving average price is $76.76 and its 200-day moving average price is $90.34.

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

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th were issued a $0.45 dividend. The ex-dividend date was Friday, July 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.58%. MSC Industrial Direct’s payout ratio is currently 45.11%.

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MSM has been the subject of several research reports. Credit Suisse Group dropped their price target on MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a report on Thursday, July 13th. Zacks Investment Research cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Robert W. Baird reissued a “neutral” rating and set a $85.00 price target (down from $92.00) on shares of MSC Industrial Direct in a report on Thursday, July 13th. BMO Capital Markets dropped their price target on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Finally, Raymond James Financial, Inc. raised MSC Industrial Direct from a “market perform” rating to a “buy” rating and set a $103.00 price target for the company in a report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. MSC Industrial Direct presently has a consensus rating of “Hold” and an average target price of $90.85.

In other news, Director Philip Peller purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were purchased at an average price of $72.00 per share, with a total value of $72,000.00. Following the completion of the acquisition, the director now owns 2,422 shares in the company, valued at approximately $174,384. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 31.28% of the company’s stock.

About MSC Industrial Direct

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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