MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,330 shares of the industrial products company’s stock after selling 500 shares during the quarter. Handelsbanken Fonder AB’s holdings in MSC Industrial Direct were worth $1,046,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in shares of MSC Industrial Direct during the 4th quarter worth approximately $25,000. Salem Investment Counselors Inc. acquired a new position in MSC Industrial Direct during the fourth quarter worth $77,000. Headlands Technologies LLC purchased a new position in shares of MSC Industrial Direct during the third quarter worth $93,000. USA Financial Formulas grew its stake in shares of MSC Industrial Direct by 5,345.0% in the third quarter. USA Financial Formulas now owns 1,089 shares of the industrial products company’s stock valued at $107,000 after buying an additional 1,069 shares in the last quarter. Finally, Meeder Advisory Services Inc. purchased a new stake in shares of MSC Industrial Direct in the 4th quarter valued at $203,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MSC Industrial Direct

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 24,501 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the completion of the sale, the director now directly owns 1,683,810 shares of the company’s stock, valued at approximately $167,219,171.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MSM shares. StockNews.com cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. KeyCorp decreased their price target on shares of MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 10th. Finally, Stephens reissued an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, MSC Industrial Direct currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

MSC Industrial Direct Stock Performance

Shares of MSM opened at $93.22 on Monday. The company’s 50 day simple moving average is $96.66 and its 200-day simple moving average is $97.76. The firm has a market cap of $5.25 billion, a PE ratio of 16.74 and a beta of 0.95. MSC Industrial Direct Co., Inc. has a 12-month low of $88.61 and a 12-month high of $105.77. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The firm had revenue of $935.30 million during the quarter, compared to analysts’ expectations of $946.55 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. MSC Industrial Direct’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. As a group, equities analysts predict that MSC Industrial Direct Co., Inc. will post 5.69 EPS for the current year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, April 8th. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

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.