MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 65.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,001 shares of the industrial products company’s stock after selling 327,380 shares during the quarter. Bank of America Corp DE owned approximately 0.31% of MSC Industrial Direct worth $12,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in MSC Industrial Direct by 307.2% in the fourth quarter. BNP Paribas Financial Markets now owns 74,804 shares of the industrial products company’s stock valued at $5,587,000 after purchasing an additional 56,433 shares during the last quarter. Ameriprise Financial Inc. increased its stake in MSC Industrial Direct by 19.4% during the fourth quarter. Ameriprise Financial Inc. now owns 200,229 shares of the industrial products company’s stock worth $14,954,000 after acquiring an additional 32,499 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in MSC Industrial Direct during the fourth quarter worth about $685,000. Parvin Asset Management LLC acquired a new stake in MSC Industrial Direct during the fourth quarter worth about $212,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in MSC Industrial Direct during the fourth quarter worth about $326,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MSM shares. Wolfe Research upgraded MSC Industrial Direct to a “strong-buy” rating in a research note on Sunday, April 6th. Robert W. Baird dropped their price target on MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, April 4th. Finally, Loop Capital dropped their price target on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.20.

Insider Transactions at MSC Industrial Direct

In related news, Director Mitchell Jacobson bought 27,642 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was bought at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the transaction, the director now directly owns 1,951,725 shares of the company’s stock, valued at approximately $136,171,853.25. This represents a 1.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.30% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $79.08 on Friday. MSC Industrial Direct Co., Inc. has a 1-year low of $68.10 and a 1-year high of $90.82. The business has a 50-day moving average of $77.16 and a 200-day moving average of $79.90. 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 company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 18.87 and a beta of 0.90.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share 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 company had revenue of $891.70 million during the quarter, compared to the consensus estimate of $908.30 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. On average, equities analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Wednesday, April 9th. MSC Industrial Direct’s payout ratio is 89.71%.

MSC Industrial Direct 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.