Geode Capital Management LLC Sells 28,986 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Geode Capital Management LLC lowered its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,056,476 shares of the industrial products company's stock after selling 28,986 shares during the period. Geode Capital Management LLC owned about 1.89% of MSC Industrial Direct worth $90,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC purchased a new stake in shares of MSC Industrial Direct during the second quarter worth $26,000. Blue Trust Inc. lifted its holdings in shares of MSC Industrial Direct by 1,142.3% in the 2nd 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 last quarter. V Square Quantitative Management LLC purchased a new position in shares of MSC Industrial Direct during the third quarter worth approximately $26,000. UMB Bank n.a. increased its stake in MSC Industrial Direct by 442.1% in 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 period. Finally, Quest Partners LLC raised its stake 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 acquiring an additional 353 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Insider Activity

In related news, Director Philip Peller sold 900 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the transaction, the director now directly owns 4,044 shares in the company, valued at approximately $360,199.08. This represents a 18.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Erik Gershwind sold 50,000 shares of the firm'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 transaction of $4,518,000.00. Following the transaction, the chief executive officer now directly owns 1,402,849 shares in the company, valued at $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MSM. Robert W. Baird increased their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on 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, Stephens lowered 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 report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $85.20.

MSC Industrial Direct Stock Down 0.3 %

MSM traded down $0.25 during trading on Friday, hitting $76.77. The company had a trading volume of 2,051,450 shares, compared to its average volume of 581,324. The company has a market capitalization of $4.29 billion, a PE ratio of 16.76 and a beta of 0.89. The firm's 50-day moving average price is $83.43 and its 200 day moving average price is $82.35. 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 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 - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The business had revenue of $952.30 million during 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%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. As a group, equities analysts expect that MSC Industrial Direct Co., Inc. will post 3.63 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Wednesday, January 15th. MSC Industrial Direct's dividend payout ratio (DPR) is presently 74.24%.

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.