M&T Bank Corp Sells 398 Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM)

M&T Bank Corp reduced its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 11.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,093 shares of the industrial products company’s stock after selling 398 shares during the period. M&T Bank Corp’s holdings in MSC Industrial Direct were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MSM. Treasurer of the State of North Carolina boosted its stake in shares of MSC Industrial Direct by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 20,179 shares of the industrial products company’s stock worth $1,507,000 after purchasing an additional 130 shares during the period. Covestor Ltd boosted its stake in shares of MSC Industrial Direct by 6.6% during the 4th quarter. Covestor Ltd now owns 2,325 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 143 shares during the period. Beverly Hills Private Wealth LLC boosted its stake in shares of MSC Industrial Direct by 4.5% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,755 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 163 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of MSC Industrial Direct by 0.4% during the 4th 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 period. Finally, Parallel Advisors LLC boosted its stake in shares of MSC Industrial Direct by 6.1% during the 1st quarter. Parallel Advisors LLC now owns 3,792 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 217 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Price Performance

Shares of MSM opened at $87.34 on Friday. The company has a 50 day moving average price of $83.64 and a 200-day moving average price of $80.40. MSC Industrial Direct Company, Inc. has a fifty-two week low of $68.10 and a fifty-two week high of $92.68. The stock has a market capitalization of $4.86 billion, a PE ratio of 24.67 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The firm had revenue of $971.15 million during the quarter, compared to analysts’ expectations of $969.72 million. During the same quarter in the prior year, the company earned $1.33 EPS. The company’s revenue was down .8% compared to the same quarter last year. Equities analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.40 annualized dividend and a dividend yield of 3.89%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 96.05%.

Insider Activity at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $195,960.00. Following the completion of the transaction, the senior vice president owned 14,657 shares in the company, valued at $1,348,444. The trade was a 12.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 18.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MSM shares. Stephens boosted their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 2nd. Loop Capital boosted their price objective on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, July 2nd. Robert W. Baird boosted their price objective on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. Finally, Wolfe Research raised shares of MSC Industrial Direct to a “strong-buy” rating in a research report on Sunday, April 6th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.33.

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.