MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,700 shares of the industrial products company’s stock after selling 900 shares during the period. Swiss National Bank’s holdings in MSC Industrial Direct were worth $7,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MSM. Blue Trust Inc. raised its position in shares of MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 297 shares in the last quarter. Ridgewood Investments LLC acquired a new position in MSC Industrial Direct during the second quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new position in MSC Industrial Direct during the third quarter worth approximately $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 buying an additional 252 shares during the period. Finally, Quest Partners LLC increased its position in MSC Industrial Direct by 35,300.0% during the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock worth $28,000 after buying an additional 353 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MSM shares. JPMorgan Chase & Co. cut their price target on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Robert W. Baird lifted their price target 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.20.

Insider Activity at MSC Industrial Direct

In related news, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $90.36, for a total value of $4,518,000.00. Following the sale, the chief executive officer now directly owns 1,402,849 shares in the company, valued at $126,761,435.64. The trade was a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $80,163.00. Following the transaction, the director now directly owns 4,044 shares of the company’s stock, valued at approximately $360,199.08. This represents a 18.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.80% of the company’s stock.

MSC Industrial Direct Trading Up 2.0 %

Shares of MSM stock opened at $87.15 on Tuesday. The business’s 50 day moving average is $83.62 and its two-hundred day moving average is $83.08. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $104.76. The company has a market capitalization of $4.87 billion, a P/E ratio of 19.03 and a beta of 0.87. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The company had revenue of $952.30 million during the quarter, compared to analysts’ expectations of $959.74 million. During the same quarter last year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities analysts forecast that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current year.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.90%. MSC Industrial Direct’s payout ratio is 74.24%.

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.