MSC Industrial Direct Sees Unusually High Options Volume (NYSE:MSM)

MSC Industrial Direct Co Inc (NYSE:MSM) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 1,007 call options on the company. This is an increase of 1,085% compared to the typical daily volume of 85 call options.

Several hedge funds have recently added to or reduced their stakes in MSM. First Hawaiian Bank increased its holdings in MSC Industrial Direct by 22.6% in the 2nd quarter. First Hawaiian Bank now owns 7,405 shares of the industrial products company’s stock valued at $550,000 after purchasing an additional 1,366 shares during the last quarter. Hamlin Capital Management LLC acquired a new stake in MSC Industrial Direct in the 2nd quarter valued at approximately $52,364,000. HighTower Advisors LLC acquired a new stake in MSC Industrial Direct in the 2nd quarter valued at approximately $302,000. Los Angeles Capital Management & Equity Research Inc. increased its holdings in MSC Industrial Direct by 2.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 352,609 shares of the industrial products company’s stock valued at $26,185,000 after purchasing an additional 7,990 shares during the last quarter. Finally, Paradice Investment Management LLC increased its holdings in MSC Industrial Direct by 23.7% in the 2nd quarter. Paradice Investment Management LLC now owns 724,838 shares of the industrial products company’s stock valued at $53,826,000 after purchasing an additional 138,639 shares during the last quarter. 75.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MSM stock traded down $0.56 during trading on Wednesday, hitting $71.03. 14,122 shares of the stock traded hands, compared to its average volume of 416,558. The firm has a market capitalization of $3.98 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.50 and a quick ratio of 1.35. The firm’s fifty day moving average price is $69.82 and its 200-day moving average price is $73.46. MSC Industrial Direct has a 52-week low of $64.59 and a 52-week high of $90.25.

A number of research analysts have weighed in on MSM shares. Northcoast Research lowered shares of MSC Industrial Direct from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $89.00 to $74.00 in a research note on Friday, July 12th. Buckingham Research reduced their price target on shares of MSC Industrial Direct from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of MSC Industrial Direct from $78.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Zacks Investment Research lowered shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $78.30.

About MSC Industrial Direct

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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