AdvisorNet Financial Inc Reduces Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

AdvisorNet Financial Inc cut its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,365 shares of the industrial products company’s stock after selling 260 shares during the period. AdvisorNet Financial Inc’s holdings in MSC Industrial Direct were worth $102,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of MSC Industrial Direct in the third quarter worth $26,000. UMB Bank n.a. lifted its holdings in MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 252 shares in the last quarter. Quest Partners LLC boosted its stake in MSC Industrial Direct by 35,300.0% in the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 353 shares during the period. Quent Capital LLC boosted its stake in MSC Industrial Direct by 57.0% in the 3rd quarter. Quent Capital LLC now owns 372 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 135 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in MSC Industrial Direct by 53.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company’s stock valued at $35,000 after buying an additional 141 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Trading Up 0.7 %

Shares of MSC Industrial Direct stock opened at $81.87 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.90. MSC Industrial Direct Co., Inc. has a 1 year low of $72.79 and a 1 year high of $104.76. The firm has a market cap of $4.58 billion, a PE ratio of 19.54 and a beta of 0.91. The company has a 50 day simple moving average of $81.65 and a two-hundred day simple moving average of $81.91.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company had revenue of $928.50 million during the quarter, compared to the consensus estimate of $904.90 million. During the same period in the previous year, the firm posted $1.25 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Analysts expect that MSC Industrial Direct Co., Inc. will post 3.53 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Wednesday, January 15th. MSC Industrial Direct’s payout ratio is currently 81.15%.

Analyst Ratings Changes

MSM has been the topic of a number of recent analyst reports. Wolfe Research started coverage on shares of MSC Industrial Direct in a report on Thursday. They issued an “outperform” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird raised their price target on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Stephens cut shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price target on the stock. in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.80.

Insider Activity

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the sale, the chief executive officer now owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip Peller sold 900 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total transaction of $80,163.00. Following the transaction, the director now owns 4,044 shares in the company, valued at $360,199.08. The trade was a 18.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company’s stock.

About MSC Industrial Direct

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.