Rhumbline Advisers Sells 9,709 Shares of MSC Industrial Direct Company, Inc. $MSM

Rhumbline Advisers decreased its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 6.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 152,611 shares of the industrial products company’s stock after selling 9,709 shares during the quarter. Rhumbline Advisers owned 0.27% of MSC Industrial Direct worth $14,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MSM. Royal Bank of Canada grew its position in MSC Industrial Direct by 4.8% in the 1st quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock valued at $3,650,000 after acquiring an additional 2,164 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of MSC Industrial Direct during the first quarter worth $455,000. NewEdge Advisors LLC boosted its stake in shares of MSC Industrial Direct by 79.9% during the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 333 shares during the period. United Services Automobile Association bought a new position in shares of MSC Industrial Direct in the first quarter worth about $229,000. Finally, Empowered Funds LLC purchased a new position in MSC Industrial Direct in the 1st quarter worth about $816,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Trading Up 0.2%

MSM opened at $93.66 on Thursday. The company has a current ratio of 1.73, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 25.59 and a beta of 0.84. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $96.99. The stock has a fifty day moving average price of $87.53 and a 200-day moving average price of $87.91.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $965.68 million for the quarter, compared to analyst estimates of $962.52 million. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, equities research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $3.48 dividend on an annualized basis and a yield of 3.7%. MSC Industrial Direct’s dividend payout ratio is presently 95.08%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $94.00 price objective on shares of MSC Industrial Direct in a research report on Thursday, January 8th. KeyCorp reissued a “sector weight” rating on shares of MSC Industrial Direct in a research note on Thursday, January 8th. iA Financial set a $95.00 target price on MSC Industrial Direct in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $85.00 price objective on shares of MSC Industrial Direct in a report on Thursday, January 8th. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.50.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.