Stanley Laman Group Ltd. lessened its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 28.5% during the second quarter, Holdings Channel reports. The firm owned 8,603 shares of the industrial products company’s stock after selling 3,422 shares during the period. Stanley Laman Group Ltd.’s holdings in MSC Industrial Direct were worth $639,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Hamlin Capital Management LLC bought a new stake in MSC Industrial Direct during the second quarter worth $52,364,000. QV Investors Inc. bought a new stake in MSC Industrial Direct during the first quarter worth $35,596,000. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in MSC Industrial Direct by 1,146.7% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 344,619 shares of the industrial products company’s stock worth $28,503,000 after acquiring an additional 316,976 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of MSC Industrial Direct in the first quarter valued at $11,422,000. Finally, First Trust Advisors LP raised its stake in shares of MSC Industrial Direct by 24.8% in the second quarter. First Trust Advisors LP now owns 601,955 shares of the industrial products company’s stock valued at $44,701,000 after buying an additional 119,606 shares during the period. Institutional investors own 75.56% of the company’s stock.
Several brokerages have issued reports on MSM. William Blair lowered MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. Zacks Investment Research lowered MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Friday, July 5th. Gordon Haskett lowered MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $72.02 target price on the stock. in a research note on Monday, June 10th. Stephens set a $82.00 target price on MSC Industrial Direct and gave the company a “hold” rating in a research note on Monday, July 8th. Finally, Northcoast Research lowered MSC Industrial Direct from a “buy” rating to a “neutral” rating and lowered their target price for the company from $89.00 to $74.00 in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. MSC Industrial Direct has a consensus rating of “Hold” and a consensus target price of $80.70.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.05). The company had revenue of $866.50 million during the quarter, compared to analysts’ expectations of $881.62 million. MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. MSC Industrial Direct’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 earnings per share. As a group, research analysts forecast that MSC Industrial Direct Co Inc will post 5.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Tuesday, July 23rd were given a $0.75 dividend. The ex-dividend date was Monday, July 22nd. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 4.52%. MSC Industrial Direct’s payout ratio is 59.06%.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.
Featured Story: What is a Candlestick Chart?
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 Inc (NYSE:MSM).
Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.