Summit Global Investments purchased a new stake in MSC Industrial Direct Co Inc (NYSE:MSM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 49,135 shares of the industrial products company’s stock, valued at approximately $4,064,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in MSC Industrial Direct by 3.0% in the first quarter. American Century Companies Inc. now owns 2,670,405 shares of the industrial products company’s stock valued at $220,869,000 after purchasing an additional 77,091 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in MSC Industrial Direct by 32.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 35,180 shares of the industrial products company’s stock valued at $2,910,000 after purchasing an additional 8,690 shares during the last quarter. Cove Street Capital LLC boosted its holdings in MSC Industrial Direct by 16.5% in the first quarter. Cove Street Capital LLC now owns 13,415 shares of the industrial products company’s stock valued at $1,110,000 after purchasing an additional 1,902 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in MSC Industrial Direct in the first quarter valued at $284,000. Finally, Neuberger Berman Group LLC boosted its holdings in MSC Industrial Direct by 12.7% in the first quarter. Neuberger Berman Group LLC now owns 32,174 shares of the industrial products company’s stock valued at $2,661,000 after purchasing an additional 3,620 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Several equities research analysts have commented on MSM shares. BMO Capital Markets lowered their price target on shares of MSC Industrial Direct from $90.00 to $86.00 and set a “market perform” rating on the stock in a report on Thursday, April 11th. Northcoast Research reissued a “buy” rating on shares of MSC Industrial Direct in a research note on Thursday, April 11th. Buckingham Research increased their target price on shares of MSC Industrial Direct from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Zacks Investment Research lowered shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Finally, William Blair lowered shares of MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.56.

Shares of MSM stock traded down $2.47 during mid-day trading on Friday, hitting $70.59. 4,898 shares of the stock were exchanged, compared to its average volume of 391,769. The company has a quick ratio of 1.18, a current ratio of 2.19 and a debt-to-equity ratio of 0.20. MSC Industrial Direct Co Inc has a 52-week low of $69.81 and a 52-week high of $94.18. The firm has a market cap of $3.98 billion, a P/E ratio of 13.91, a PEG ratio of 1.30 and a beta of 0.96.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, April 10th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.02). The firm had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $826.98 million. MSC Industrial Direct had a return on equity of 21.20% and a net margin of 8.88%. During the same period in the previous year, the company earned $1.34 earnings per share. On average, analysts anticipate that MSC Industrial Direct Co Inc will post 5.55 earnings per share for the current fiscal year.

In other MSC Industrial Direct news, EVP Steven N. Baruch sold 5,404 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $82.00, for a total value of $443,128.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas E. Jones sold 2,126 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.50, for a total transaction of $177,521.00. Following the completion of the sale, the executive vice president now owns 7,496 shares of the company’s stock, valued at approximately $625,916. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by corporate insiders.

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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.

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

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