Virginia Retirement Systems ET AL boosted its position in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 194.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,100 shares of the industrial products company’s stock after acquiring an additional 11,300 shares during the period. Virginia Retirement Systems ET AL’s holdings in MSC Industrial Direct were worth $1,292,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Legal & General Group Plc grew its stake in MSC Industrial Direct by 11.8% during the third quarter. Legal & General Group Plc now owns 56,755 shares of the industrial products company’s stock valued at $4,288,000 after acquiring an additional 5,979 shares in the last quarter. Haverford Financial Services Inc. purchased a new position in MSC Industrial Direct during the third quarter valued at approximately $235,000. Wasatch Advisors Inc. purchased a new position in MSC Industrial Direct during the third quarter valued at approximately $342,000. Yorktown Management & Research Co Inc purchased a new position in MSC Industrial Direct during the third quarter valued at approximately $861,000. Finally, Sprucegrove Investment Management Ltd. purchased a new position in MSC Industrial Direct during the third quarter valued at approximately $8,532,000. 75.55% of the stock is owned by institutional investors.
In related news, EVP Steven N. Baruch sold 5,762 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $81.25, for a total transaction of $468,162.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mitchell Jacobson sold 104,101 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $80.91, for a total transaction of $8,422,811.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,541 shares of company stock valued at $18,264,812. Company insiders own 31.28% of the company’s stock.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $753.80 million during the quarter, compared to analyst estimates of $745.80 million. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. equities research analysts forecast that MSC Industrial Direct Co Inc will post 4.46 EPS for the current year.
A number of research firms have commented on MSM. BMO Capital Markets reissued a “market perform” rating on shares of MSC Industrial Direct in a research note on Tuesday, September 12th. KeyCorp reissued a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 17th. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Thursday, September 21st. Susquehanna Bancshares began coverage on shares of MSC Industrial Direct in a research note on Monday, September 25th. They issued a “neutral” rating and a $77.00 price target for the company. Finally, Credit Suisse Group set a $93.00 price target on shares of MSC Industrial Direct and gave the stock a “buy” rating in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.92.
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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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