Tidal Investments LLC lowered its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 41.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,674 shares of the industrial products company's stock after selling 6,872 shares during the period. Tidal Investments LLC's holdings in MSC Industrial Direct were worth $833,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of MSC Industrial Direct during the 3rd quarter worth about $26,000. UMB Bank n.a. increased its position in MSC Industrial Direct by 442.1% during the third quarter. UMB Bank n.a. now owns 309 shares of the industrial products company's stock worth $27,000 after purchasing an additional 252 shares during the last quarter. Blue Trust Inc. raised its stake in MSC Industrial Direct by 1,142.3% during the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company's stock worth $26,000 after purchasing an additional 297 shares during the period. Ridgewood Investments LLC acquired a new position in shares of MSC Industrial Direct in the 2nd quarter valued at $26,000. Finally, Quest Partners LLC grew its stake in shares of MSC Industrial Direct by 35,300.0% during the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company's stock valued at $28,000 after buying an additional 353 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on MSM shares. Robert W. Baird increased their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Stephens downgraded MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price objective on the stock. in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. decreased their target price on MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $85.20.
Get Our Latest Research Report on MSM
Shares of MSM opened at $76.77 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90. MSC Industrial Direct Co., Inc. has a 12 month low of $75.05 and a 12 month high of $104.76. The stock has a market cap of $4.29 billion, a PE ratio of 16.76 and a beta of 0.89. The stock's 50-day moving average is $83.43 and its two-hundred day moving average is $82.35.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The company had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. During the same period last year, the firm posted $1.64 earnings per share. The business's revenue was down 8.0% on a year-over-year basis. Equities analysts forecast that MSC Industrial Direct Co., Inc. will post 3.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Wednesday, January 15th. MSC Industrial Direct's payout ratio is 74.24%.
In other news, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This represents a 3.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip Peller sold 900 shares of MSC Industrial Direct stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total transaction of $80,163.00. Following the completion of the sale, the director now owns 4,044 shares of the company's stock, valued at approximately $360,199.08. This trade represents a 18.20 % decrease in their position. The disclosure for this sale can be found here. 18.80% of the stock is currently owned by insiders.
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.
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