Ridgewood Investments LLC Increases Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Ridgewood Investments LLC raised its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 2,183.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,420 shares of the industrial products company's stock after purchasing an additional 7,095 shares during the quarter. Ridgewood Investments LLC's holdings in MSC Industrial Direct were worth $639,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MSM. American Century Companies Inc. boosted its stake in shares of MSC Industrial Direct by 85.1% in the second quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company's stock worth $216,772,000 after acquiring an additional 1,256,706 shares during the period. Swedbank AB bought a new position in MSC Industrial Direct in the 1st quarter worth approximately $16,571,000. Allspring Global Investments Holdings LLC boosted its stake in MSC Industrial Direct by 804.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 173,653 shares of the industrial products company's stock worth $13,772,000 after purchasing an additional 154,454 shares during the period. Renaissance Technologies LLC grew its holdings in MSC Industrial Direct by 1,715.2% during the 2nd quarter. Renaissance Technologies LLC now owns 143,400 shares of the industrial products company's stock valued at $11,373,000 after buying an additional 135,500 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of MSC Industrial Direct by 14.8% in the fourth quarter. Capital Research Global Investors now owns 775,000 shares of the industrial products company's stock worth $78,476,000 after buying an additional 100,000 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Insider Activity

In related news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total transaction of $413,271.00. Following the completion of the transaction, the senior vice president now directly owns 12,897 shares of the company's stock, valued at approximately $1,091,086.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.80% of the company's stock.

MSC Industrial Direct Trading Down 0.1 %

MSM stock traded down $0.11 during midday trading on Friday, reaching $83.40. 383,352 shares of the company traded hands, compared to its average volume of 557,873. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 16.19 and a beta of 0.86. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $105.77. The business has a 50 day moving average of $82.23 and a 200-day moving average of $85.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share for the quarter, meeting the consensus estimate of $1.33. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The company had revenue of $979.40 million for the quarter, compared to analyst estimates of $979.10 million. During the same quarter in the prior year, the firm posted $1.74 EPS. MSC Industrial Direct's quarterly revenue was down 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

MSM has been the subject of several research analyst reports. Stephens reaffirmed an "overweight" rating and set a $110.00 target price on shares of MSC Industrial Direct in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their target price on MSC Industrial Direct from $81.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, July 3rd. KeyCorp lowered MSC Industrial Direct from an "overweight" rating to a "sector weight" rating in a research note on Monday, June 17th. Robert W. Baird reduced their price objective on MSC Industrial Direct from $95.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, June 14th. Finally, StockNews.com downgraded MSC Industrial Direct from a "buy" rating to a "hold" rating in a research report on Saturday, June 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of "Hold" and an average target price of $90.20.

MSC Industrial Direct Profile

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.