Valley National Advisers Inc. Has $289,000 Stock Position in MSC Industrial Direct Company, Inc. $MSM

Valley National Advisers Inc. trimmed its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 30.5% during the second quarter, Holdings Channel.com reports. The firm owned 3,408 shares of the industrial products company’s stock after selling 1,495 shares during the period. Valley National Advisers Inc.’s holdings in MSC Industrial Direct were worth $289,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MSM. Synergy Asset Management LLC bought a new position in MSC Industrial Direct during the 2nd quarter valued at $2,068,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MSC Industrial Direct by 11.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,563 shares of the industrial products company’s stock valued at $3,449,000 after purchasing an additional 4,118 shares in the last quarter. Twelve Points Wealth Management LLC boosted its holdings in MSC Industrial Direct by 3.7% during the second quarter. Twelve Points Wealth Management LLC now owns 14,963 shares of the industrial products company’s stock worth $1,272,000 after purchasing an additional 537 shares during the last quarter. Signaturefd LLC boosted its holdings in MSC Industrial Direct by 11.1% during the second quarter. Signaturefd LLC now owns 1,277 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 128 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its position in MSC Industrial Direct by 11.2% in the 2nd quarter. TD Private Client Wealth LLC now owns 30,481 shares of the industrial products company’s stock worth $2,591,000 after purchasing an additional 3,079 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total value of $195,960.00. Following the transaction, the senior vice president owned 14,657 shares of the company’s stock, valued at $1,348,444. This represents a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.30% of the stock is owned by insiders.

MSC Industrial Direct Stock Up 0.1%

MSM opened at $92.05 on Tuesday. The firm has a market capitalization of $5.12 billion, a P/E ratio of 26.00 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $94.31. The company has a fifty day moving average price of $89.60 and a 200-day moving average price of $83.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MSM. Stephens lifted their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. Robert W. Baird lifted their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of MSC Industrial Direct in a research report on Saturday, September 27th. Zacks Research lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Loop Capital increased their target price on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $90.33.

About MSC Industrial Direct

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.