MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,988 shares of the industrial products company’s stock after selling 2,567 shares during the period. Raymond James & Associates owned approximately 0.12% of MSC Industrial Direct worth $4,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Strs Ohio increased its position in MSC Industrial Direct by 23.6% during the 2nd quarter. Strs Ohio now owns 24,512 shares of the industrial products company’s stock valued at $1,841,000 after buying an additional 4,683 shares in the last quarter. Trexquant Investment LP purchased a new stake in MSC Industrial Direct during the 2nd quarter valued at about $1,389,000. National Bank of Canada FI grew its stake in MSC Industrial Direct by 12,200.7% during the 3rd quarter. National Bank of Canada FI now owns 103,326 shares of the industrial products company’s stock valued at $7,524,000 after purchasing an additional 102,486 shares during the last quarter. Ridgewood Investments LLC grew its stake in MSC Industrial Direct by 1.3% during the 3rd quarter. Ridgewood Investments LLC now owns 15,381 shares of the industrial products company’s stock valued at $1,120,000 after purchasing an additional 199 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in MSC Industrial Direct by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 174,698 shares of the industrial products company’s stock valued at $13,122,000 after purchasing an additional 11,926 shares during the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $85.18, for a total transaction of $4,259,000.00. Following the completion of the transaction, the chief executive officer now owns 463,723 shares of the company’s stock, valued at $39,499,925.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 28.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MSM shares. Jefferies Financial Group restated a “hold” rating and issued a $84.00 target price on shares of MSC Industrial Direct in a research note on Monday, October 17th. KeyCorp lowered their target price on MSC Industrial Direct from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, October 14th. Robert W. Baird upped their target price on MSC Industrial Direct from $92.00 to $95.00 in a research note on Friday, January 6th. Finally, StockNews.com started coverage on MSC Industrial Direct in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MSC Industrial Direct has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $80.39 on Tuesday. The company has a market capitalization of $4.49 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.65 and a beta of 1.02. The business’s 50 day moving average is $82.89 and its two-hundred day moving average is $80.18. The company has a current ratio of 2.14, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. MSC Industrial Direct Co., Inc. has a 12-month low of $71.32 and a 12-month high of $87.99.

MSC Industrial Direct (NYSE:MSM – Get Rating) last issued its quarterly earnings results on Thursday, October 20th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.02. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. MSC Industrial Direct had a return on equity of 26.97% and a net margin of 9.34%. MSC Industrial Direct’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 earnings per share. Analysts expect that MSC Industrial Direct Co., Inc. will post 6.07 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 24th. Shareholders of record on Tuesday, January 10th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, January 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.93%. MSC Industrial Direct’s payout ratio is currently 49.84%.

About MSC Industrial Direct

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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, and the United Kingdom. Its 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.