MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,922 shares of the industrial products company’s stock after selling 4,753 shares during the period. New York State Teachers Retirement System owned 0.11% of MSC Industrial Direct worth $5,415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its position in MSC Industrial Direct by 98.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 9,320 shares of the industrial products company’s stock valued at $904,000 after acquiring an additional 4,620 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of MSC Industrial Direct in the first quarter valued at approximately $245,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of MSC Industrial Direct by 9.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,896 shares of the industrial products company’s stock valued at $1,640,000 after purchasing an additional 1,430 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of MSC Industrial Direct by 18.2% during the first quarter. BNP Paribas Financial Markets now owns 24,550 shares of the industrial products company’s stock worth $2,382,000 after purchasing an additional 3,788 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in MSC Industrial Direct by 30.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,129 shares of the industrial products company’s stock valued at $1,080,000 after buying an additional 2,622 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Stock Up 1.9 %

Shares of NYSE MSM opened at $82.06 on Wednesday. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 17.92 and a beta of 0.87. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $104.76. The firm has a 50-day moving average price of $81.88 and a 200 day moving average price of $83.76. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The company had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. MSC Industrial Direct’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. Equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.85 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 13th. This represents a $3.40 annualized dividend and a yield of 4.14%. MSC Industrial Direct’s dividend payout ratio is 74.24%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MSM shares. JPMorgan Chase & Co. reduced their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.20.

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.