California Public Employees Retirement System Lowers Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

California Public Employees Retirement System trimmed its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 13.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 80,014 shares of the industrial products company’s stock after selling 11,909 shares during the period. California Public Employees Retirement System’s holdings in MSC Industrial Direct were worth $5,976,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Allworth Financial LP grew its position in MSC Industrial Direct by 412.0% in the 4th quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 342 shares in the last quarter. UMB Bank n.a. raised its stake in MSC Industrial Direct by 54.0% in the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock valued at $36,000 after buying an additional 167 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in MSC Industrial Direct during the fourth quarter worth approximately $36,000. V Square Quantitative Management LLC lifted its position in shares of MSC Industrial Direct by 77.0% during the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock worth $40,000 after buying an additional 231 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in shares of MSC Industrial Direct by 38.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 962 shares of the industrial products company’s stock valued at $83,000 after buying an additional 267 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Trading Down 1.5 %

Shares of MSM stock opened at $70.13 on Tuesday. MSC Industrial Direct Co., Inc. has a twelve month low of $68.10 and a twelve month high of $95.88. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $79.24 and its two-hundred day moving average is $81.23. The company has a market capitalization of $3.92 billion, a P/E ratio of 16.74 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $891.70 million for the quarter, compared to analysts’ expectations of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. MSC Industrial Direct’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. Equities analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct’s dividend payout ratio is presently 89.71%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MSM. Robert W. Baird decreased their price objective on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday. Wolfe Research started coverage on MSC Industrial Direct in a research report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Loop Capital cut their price target on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $82.20.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include 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.