Cadence Capital Management LLC Raises Holdings in MSC Industrial Direct Co Inc (MSM)

Share on StockTwits

Cadence Capital Management LLC grew its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 13.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,252 shares of the industrial products company’s stock after purchasing an additional 642 shares during the period. Cadence Capital Management LLC’s holdings in MSC Industrial Direct were worth $446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Wells Fargo & Company MN boosted its holdings in MSC Industrial Direct by 33.8% in the first quarter. Wells Fargo & Company MN now owns 90,230 shares of the industrial products company’s stock worth $8,275,000 after purchasing an additional 22,794 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of MSC Industrial Direct in the 1st quarter valued at about $11,320,000. Trexquant Investment LP acquired a new position in shares of MSC Industrial Direct in the 1st quarter valued at about $1,252,000. American Century Companies Inc. boosted its holdings in shares of MSC Industrial Direct by 10.2% in the 1st quarter. American Century Companies Inc. now owns 2,097,340 shares of the industrial products company’s stock valued at $192,347,000 after buying an additional 193,659 shares during the period. Finally, W. E. Donoghue & Co. LLC acquired a new position in shares of MSC Industrial Direct in the 1st quarter valued at about $576,000. Institutional investors and hedge funds own 74.91% of the company’s stock.

MSC Industrial Direct stock opened at $85.54 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.11 and a debt-to-equity ratio of 0.18. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.25 and a beta of 0.58. MSC Industrial Direct Co Inc has a 52-week low of $66.12 and a 52-week high of $99.94.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, July 11th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.39. The firm had revenue of $828.30 million during the quarter, compared to analyst estimates of $834.43 million. MSC Industrial Direct had a net margin of 10.16% and a return on equity of 21.08%. MSC Industrial Direct’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. equities analysts forecast that MSC Industrial Direct Co Inc will post 5.06 EPS for the current fiscal year.

In other MSC Industrial Direct news, SVP Gregory Polli sold 8,696 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $82.38, for a total transaction of $716,376.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Denis F. Kelly sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $88.43, for a total value of $132,645.00. The disclosure for this sale can be found here. Insiders own 31.28% of the company’s stock.

A number of brokerages have commented on MSM. Northcoast Research set a $95.00 target price on MSC Industrial Direct and gave the company a “buy” rating in a research note on Friday, July 13th. ValuEngine downgraded MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Sunday, July 15th. Wells Fargo & Co decreased their target price on MSC Industrial Direct from $95.00 to $87.00 and set a “market perform” rating for the company in a research note on Thursday, July 12th. Finally, BMO Capital Markets decreased their target price on MSC Industrial Direct from $104.00 to $92.00 and set a “market perform” rating for the company in a research note on Thursday, July 12th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $101.23.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily 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, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

Read More: Trading Strategy

Want to see what other hedge funds are holding MSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MSC Industrial Direct Co Inc (NYSE:MSM).

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

Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply