Legacy Financial Advisors Inc. Lowers Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Legacy Financial Advisors Inc. cut its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 40.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,195 shares of the industrial products company’s stock after selling 4,172 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in MSC Industrial Direct were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Altrius Capital Management Inc increased its stake in shares of MSC Industrial Direct by 0.3% during the 4th quarter. Altrius Capital Management Inc now owns 54,138 shares of the industrial products company’s stock valued at $4,044,000 after acquiring an additional 159 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in MSC Industrial Direct by 0.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 38,611 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 166 shares during the last quarter. UMB Bank n.a. raised its stake in MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 167 shares during the period. M&T Bank Corp boosted its holdings in shares of MSC Industrial Direct by 4.9% in the 3rd quarter. M&T Bank Corp now owns 3,761 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 176 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of MSC Industrial Direct by 9.6% during the 4th quarter. Blue Trust Inc. now owns 2,362 shares of the industrial products company’s stock valued at $176,000 after buying an additional 207 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MSC Industrial Direct news, Director Mitchell Jacobson bought 27,642 shares of the stock in a transaction dated Tuesday, April 8th. The stock was bought at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the purchase, the director now directly owns 1,951,725 shares of the company’s stock, valued at approximately $136,171,853.25. The trade was a 1.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.30% of the stock is currently owned by insiders.

MSC Industrial Direct Trading Up 0.9 %

Shares of MSM opened at $75.86 on Friday. MSC Industrial Direct Co., Inc. has a 12 month low of $68.10 and a 12 month high of $94.31. The stock’s 50-day moving average is $78.46 and its two-hundred day moving average is $80.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91. The stock has a market cap of $4.24 billion, a PE ratio of 18.11 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm had revenue of $891.70 million for the quarter, compared to analyst estimates of $908.30 million. During the same period in the previous year, the company posted $1.18 EPS. MSC Industrial Direct’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts forecast that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct’s payout ratio is 89.71%.

Analyst Ratings Changes

MSM has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Loop Capital reduced their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Finally, Wolfe Research initiated coverage on MSC Industrial Direct in a report on Thursday, January 16th. They set an “outperform” rating and a $95.00 target price for the company. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and a consensus target price of $82.20.

MSC Industrial Direct Company Profile

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.