Disciplined Growth Investors Inc. MN increased its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 641,779 shares of the industrial products company's stock after purchasing an additional 35,077 shares during the quarter. Disciplined Growth Investors Inc. MN owned 1.15% of MSC Industrial Direct worth $55,232,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of MSC Industrial Direct in the 3rd quarter worth about $26,000. UMB Bank n.a. grew its holdings in shares of MSC Industrial Direct by 442.1% during the third quarter. UMB Bank n.a. now owns 309 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 252 shares during the last quarter. Blue Trust Inc. raised its position in shares of MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company's stock worth $26,000 after purchasing an additional 297 shares during the period. Ridgewood Investments LLC bought a new stake in shares of MSC Industrial Direct in the 2nd quarter worth approximately $26,000. Finally, Quest Partners LLC boosted 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 valued at $28,000 after purchasing an additional 353 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.
Insider Transactions at MSC Industrial Direct
In related news, Director Philip Peller sold 900 shares of the stock in a transaction dated 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 sale, the director now directly owns 4,044 shares of the company's stock, valued at approximately $360,199.08. This represents a 18.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction dated Monday, November 11th. The shares were 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 in the company, valued at approximately $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 owned by insiders.
MSC Industrial Direct Price Performance
MSM traded up $0.18 on Tuesday, reaching $84.17. The company had a trading volume of 235,236 shares, compared to its average volume of 576,043. MSC Industrial Direct Co., Inc. has a one year low of $75.05 and a one year high of $104.76. The company has a market capitalization of $4.71 billion, a P/E ratio of 18.34 and a beta of 0.89. The company has a fifty day moving average of $83.58 and a 200-day moving average of $82.56. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). The firm had revenue of $952.30 million for the quarter, compared to the consensus estimate of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. MSC Industrial Direct's revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. As a group, equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current year.
MSC Industrial Direct Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.04%. This is a boost from MSC Industrial Direct's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 13th. MSC Industrial Direct's payout ratio is presently 74.24%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Stephens cut MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 target price on the stock. in a research note on Wednesday, December 4th. 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. Finally, 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 research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $85.20.
Check Out Our Latest Report on MSC Industrial Direct
About MSC Industrial Direct
(
Free Report)
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.
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