Poplar Forest Capital LLC Has $56.55 Million Holdings in MSC Industrial Direct Co Inc (NYSE:MSM)

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Poplar Forest Capital LLC decreased its holdings in shares of MSC Industrial Direct Co Inc (NYSE:MSM) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 761,486 shares of the industrial products company’s stock after selling 49,120 shares during the period. MSC Industrial Direct makes up 4.1% of Poplar Forest Capital LLC’s holdings, making the stock its 7th largest position. Poplar Forest Capital LLC owned 1.38% of MSC Industrial Direct worth $56,548,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MSM. Swiss National Bank boosted its stake in shares of MSC Industrial Direct by 1.1% during the 2nd quarter. Swiss National Bank now owns 83,600 shares of the industrial products company’s stock worth $6,208,000 after buying an additional 900 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of MSC Industrial Direct by 2.1% during the 2nd quarter. Advisory Services Network LLC now owns 7,446 shares of the industrial products company’s stock worth $553,000 after buying an additional 156 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of MSC Industrial Direct during the 2nd quarter worth about $1,135,000. Tocqueville Asset Management L.P. acquired a new position in shares of MSC Industrial Direct during the 2nd quarter worth about $973,000. Finally, Advisor Group Inc. boosted its stake in shares of MSC Industrial Direct by 36.6% during the 2nd quarter. Advisor Group Inc. now owns 3,201 shares of the industrial products company’s stock worth $238,000 after buying an additional 858 shares during the last quarter. Institutional investors own 75.56% of the company’s stock.

MSM has been the subject of several recent analyst reports. Northcoast Research downgraded shares of MSC Industrial Direct from a “buy” rating to a “neutral” rating and cut their target price for the company from $89.00 to $74.00 in a research note on Friday, July 12th. ValuEngine downgraded shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Wells Fargo & Co set a $70.00 target price on shares of MSC Industrial Direct and gave the company a “market perform” rating in a research note on Thursday, July 11th. Gordon Haskett downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $72.02 target price for the company. in a research note on Monday, June 10th. Finally, Stephens set a $82.00 target price on shares of MSC Industrial Direct and gave the company a “hold” rating in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. MSC Industrial Direct presently has an average rating of “Hold” and an average target price of $80.70.

NYSE:MSM traded up $1.81 during mid-day trading on Friday, hitting $68.37. The stock had a trading volume of 470,100 shares, compared to its average volume of 491,780. MSC Industrial Direct Co Inc has a twelve month low of $64.59 and a twelve month high of $90.25. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.02 and a beta of 0.91. The company’s 50 day simple moving average is $70.87 and its 200 day simple moving average is $77.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.35 and a current ratio of 2.50.

MSC Industrial Direct (NYSE:MSM) last released 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 the consensus estimate of $881.62 million. MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. As a group, equities analysts forecast that MSC Industrial Direct Co Inc will post 5.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Tuesday, July 23rd were issued a $0.75 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Monday, July 22nd. MSC Industrial Direct’s dividend payout ratio is currently 59.06%.

MSC Industrial Direct Profile

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.

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

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