Stone Ridge Asset Management LLC acquired a new position in shares of MSC Industrial Direct Co Inc (NYSE:MSM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,167 shares of the industrial products company’s stock, valued at approximately $2,046,000.
Other institutional investors also recently added to or reduced their stakes in the company. Delpha Capital Management LLC acquired a new position in MSC Industrial Direct during the fourth quarter worth $111,000. Cerebellum GP LLC acquired a new position in MSC Industrial Direct during the fourth quarter worth $127,000. Cutler Group LP raised its stake in MSC Industrial Direct by 457.8% during the fourth quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock worth $138,000 after acquiring an additional 1,831 shares in the last quarter. Zions Bancorporation acquired a new position in MSC Industrial Direct during the third quarter worth $150,000. Finally, Iberiabank Corp acquired a new position in MSC Industrial Direct during the third quarter worth $205,000. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Shares of MSC Industrial Direct Co Inc (NYSE:MSM) opened at $93.75 on Wednesday. MSC Industrial Direct Co Inc has a 12 month low of $65.42 and a 12 month high of $104.59. The firm has a market capitalization of $5,274.12, a price-to-earnings ratio of 22.57, a PEG ratio of 1.36 and a beta of 0.64. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.
MSC Industrial Direct announced that its Board of Directors has approved a share buyback program on Wednesday, January 10th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
MSM has been the subject of several recent analyst reports. TheStreet upgraded MSC Industrial Direct from a “c+” rating to a “b-” rating in a research note on Tuesday, November 28th. Credit Suisse Group set a $100.00 target price on MSC Industrial Direct and gave the company a “buy” rating in a research note on Monday, December 4th. Stifel Nicolaus restated a “hold” rating and issued a $93.00 target price on shares of MSC Industrial Direct in a research note on Monday, December 11th. Northcoast Research upgraded MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $95.92.
In related news, VP Charles Bonomo sold 1,800 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $92.19, for a total value of $165,942.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rustom Jilla sold 2,500 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $99.00, for a total value of $247,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 783,437 shares of company stock valued at $74,083,049. Corporate insiders own 31.38% of the company’s stock.
MSC Industrial Direct Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include 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.
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