Entropy Technologies LP Invests $250,000 in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Entropy Technologies LP purchased a new stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,907 shares of the industrial products company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. increased its stake in MSC Industrial Direct by 1,142.3% in the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 297 shares during the period. Ridgewood Investments LLC purchased a new position in shares of MSC Industrial Direct during the second quarter worth about $26,000. V Square Quantitative Management LLC acquired a new position in MSC Industrial Direct in the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its stake 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 valued at $27,000 after acquiring an additional 252 shares during the last quarter. Finally, Quest Partners LLC lifted its position in MSC Industrial Direct by 35,300.0% during the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 353 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MSM shares. JPMorgan Chase & Co. dropped their target price on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Robert W. Baird upped their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and a consensus price target of $90.20.

MSC Industrial Direct Trading Down 2.8 %

NYSE:MSM opened at $83.07 on Friday. MSC Industrial Direct Co., Inc. has a 1 year low of $75.05 and a 1 year high of $104.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. The stock has a fifty day moving average price of $83.07 and a two-hundred day moving average price of $83.47. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 18.14 and a beta of 0.87.

MSC Industrial Direct (NYSE:MSM) last announced 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 during the quarter, compared to analysts’ expectations of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 EPS. As a group, sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.09%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio is currently 74.24%.

Insider Activity at MSC Industrial Direct

In other news, Director Philip Peller sold 900 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total value of $80,163.00. Following the completion of the transaction, the director now owns 4,044 shares in the company, valued at $360,199.08. This trade represents a 18.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction 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 transaction, the chief executive officer now directly owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. This trade represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. 18.80% of the stock is currently owned by company insiders.

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.