Renaissance Technologies LLC lessened its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 43.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,100 shares of the industrial products company’s stock after selling 238,900 shares during the period. Renaissance Technologies LLC owned 0.68% of MSC Industrial Direct worth $26,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MSC Industrial Direct by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 123 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in MSC Industrial Direct by 5.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,569 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 88 shares in the last quarter. Invictus RG raised its holdings in MSC Industrial Direct by 796.7% during the first quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 1,442 shares in the last quarter. HighTower Advisors LLC bought a new stake in MSC Industrial Direct during the first quarter worth approximately $217,000. Finally, Harfst & Associates Inc. bought a new stake in MSC Industrial Direct during the first quarter worth approximately $233,000. 75.58% of the stock is currently owned by institutional investors.

MSC Industrial Direct Company, Inc. (NYSE MSM) opened at 76.07 on Monday. The firm has a 50-day moving average of $71.26 and a 200 day moving average of $81.42. MSC Industrial Direct Company, Inc. has a 52-week low of $65.42 and a 52-week high of $105.70. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 18.97 and a beta of 0.53.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The business had revenue of $743.90 million for the quarter, compared to analyst estimates of $744.49 million. During the same period in the prior year, the business posted $1.05 earnings per share. MSC Industrial Direct’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that MSC Industrial Direct Company, Inc. will post $3.97 earnings per share for the current year.

Several equities research analysts recently commented on MSM shares. Stifel Nicolaus reissued a “hold” rating and set a $88.00 target price (down previously from $92.00) on shares of MSC Industrial Direct in a report on Monday, June 12th. BidaskClub raised MSC Industrial Direct from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a report on Saturday, July 8th. Credit Suisse Group dropped their target price on MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating on the stock in a report on Thursday, July 13th. Finally, Robert W. Baird reissued a “neutral” rating and set a $85.00 target price (down previously from $92.00) on shares of MSC Industrial Direct in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $89.38.

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In other MSC Industrial Direct news, Director Philip Peller acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were acquired at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the completion of the acquisition, the director now directly owns 2,422 shares of the company’s stock, valued at approximately $174,384. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 31.28% of the company’s stock.

MSC Industrial Direct Company 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.

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

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