Texas Permanent School Fund Lowers Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Posted by Defense World Staff on May 10th, 2023

Texas Permanent School Fund lowered its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,745 shares of the industrial products company’s stock after selling 2,297 shares during the quarter. Texas Permanent School Fund owned 0.06% of MSC Industrial Direct worth $2,594,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MSM. J. W. Coons Advisors LLC purchased a new position in shares of MSC Industrial Direct in the fourth quarter worth $242,000. Bleakley Financial Group LLC purchased a new position in shares of MSC Industrial Direct in the fourth quarter worth $1,031,000. LPL Financial LLC lifted its holdings in shares of MSC Industrial Direct by 17.4% in the fourth quarter. LPL Financial LLC now owns 16,163 shares of the industrial products company’s stock worth $1,282,000 after buying an additional 2,398 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of MSC Industrial Direct by 2.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 142,657 shares of the industrial products company’s stock worth $11,655,000 after buying an additional 4,028 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of MSC Industrial Direct by 11.2% in the fourth quarter. TD Asset Management Inc now owns 114,695 shares of the industrial products company’s stock worth $9,371,000 after buying an additional 11,528 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company’s stock.

MSC Industrial Direct Trading Down 1.0 %

NYSE MSM opened at $89.94 on Wednesday. The company’s 50-day moving average price is $85.81 and its 200-day moving average price is $84.12. The company has a current ratio of 2.04, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19. The stock has a market cap of $5.03 billion, a PE ratio of 13.84 and a beta of 1.03. MSC Industrial Direct Co., Inc. has a 12 month low of $71.32 and a 12 month high of $91.93.

MSC Industrial Direct (NYSE:MSM – Get Rating) last posted its quarterly earnings results on Tuesday, April 4th. The industrial products company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $961.60 million for the quarter, compared to analysts’ expectations of $934.76 million. MSC Industrial Direct had a net margin of 9.34% and a return on equity of 26.66%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. Equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 6.28 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 25th. Stockholders of record on Tuesday, April 11th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, April 10th. MSC Industrial Direct’s payout ratio is presently 48.62%.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 6,442 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $90.99, for a total transaction of $586,157.58. Following the transaction, the senior vice president now directly owns 10,716 shares in the company, valued at approximately $975,048.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 28.39% of the company’s stock.

Wall Street Analyst Weigh In

MSM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of MSC Industrial Direct from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, April 5th. KeyCorp upped their price target on shares of MSC Industrial Direct from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, April 21st. Loop Capital upped their price target on shares of MSC Industrial Direct from $82.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, April 5th. StockNews.com downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 3rd. Finally, Stephens reiterated an “overweight” rating and set a $100.00 price objective on shares of MSC Industrial Direct in a research report on Wednesday, April 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.67.

MSC Industrial Direct Company Profile

(Get Rating)

MSC Industrial Direct Co, Inc engages in the distribution of metalworking and maintenance, repair, and operations products and services. Its products include cutting tools, measuring instruments, tooling components, metalworking, 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.