Point72 Hong Kong Ltd Makes New Investment in MSC Industrial Direct Co Inc (NYSE:MSM)

Point72 Hong Kong Ltd purchased a new stake in shares of MSC Industrial Direct Co Inc (NYSE:MSM) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,879 shares of the industrial products company’s stock, valued at approximately $226,000.

A number of other institutional investors have also recently bought and sold shares of the business. Pzena Investment Management LLC acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth about $32,177,000. OLD Republic International Corp lifted its stake in MSC Industrial Direct by 302.5% during the 4th quarter. OLD Republic International Corp now owns 479,000 shares of the industrial products company’s stock valued at $37,587,000 after acquiring an additional 360,000 shares during the period. Goldman Sachs Group Inc. lifted its stake in MSC Industrial Direct by 126.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 434,800 shares of the industrial products company’s stock valued at $34,119,000 after acquiring an additional 243,209 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of MSC Industrial Direct by 136.6% in the 4th quarter. Renaissance Technologies LLC now owns 369,100 shares of the industrial products company’s stock valued at $28,963,000 after acquiring an additional 213,100 shares during the last quarter. Finally, Professional Advisory Services Inc. purchased a new stake in shares of MSC Industrial Direct in the 4th quarter valued at $13,790,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Several research analysts recently issued reports on MSM shares. Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a report on Tuesday. Buckingham Research decreased their target price on shares of MSC Industrial Direct from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $75.89.

In other MSC Industrial Direct news, EVP Douglas E. Jones sold 1,372 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $79.00, for a total transaction of $108,388.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Charles Bonomo sold 24,211 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $77.50, for a total value of $1,876,352.50. The disclosure for this sale can be found here. Insiders have sold 74,478 shares of company stock worth $5,712,323 over the last three months. 28.75% of the stock is currently owned by insiders.

NYSE:MSM traded up $1.66 during trading hours on Thursday, reaching $51.39. The company had a trading volume of 676,650 shares, compared to its average volume of 756,748. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.90 and a quick ratio of 1.56. MSC Industrial Direct Co Inc has a 1-year low of $44.93 and a 1-year high of $86.16. The business’s 50 day moving average price is $62.33 and its 200-day moving average price is $70.77. The firm has a market cap of $2.81 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.71 and a beta of 0.99.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.04. MSC Industrial Direct had a net margin of 8.35% and a return on equity of 19.67%. The business had revenue of $823.60 million for the quarter, compared to analysts’ expectations of $820.84 million. During the same quarter last year, the company earned $1.33 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, analysts expect that MSC Industrial Direct Co Inc will post 4.76 earnings per share for the current fiscal year.

MSC Industrial Direct Profile

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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