Kayne Anderson Rudnick Investment Management LLC Sells 98,322 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Kayne Anderson Rudnick Investment Management LLC cut its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 61.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,101 shares of the industrial products company's stock after selling 98,322 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.11% of MSC Industrial Direct worth $4,564,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Headlands Technologies LLC purchased a new position in MSC Industrial Direct during the 4th quarter valued at about $25,000. Allworth Financial LP increased its stake in shares of MSC Industrial Direct by 412.0% during the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 342 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 167 shares during the last quarter. Synergy Asset Management LLC bought a new stake in shares of MSC Industrial Direct in the 4th quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC grew its stake in shares of MSC Industrial Direct by 77.0% in the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company's stock worth $40,000 after buying an additional 231 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Stock Performance

MSM traded down $0.38 during midday trading on Friday, hitting $77.62. 300,604 shares of the company traded hands, compared to its average volume of 637,364. The company's 50-day moving average is $77.54 and its 200 day moving average is $80.35. MSC Industrial Direct Co., Inc. has a 52 week low of $68.10 and a 52 week high of $94.31. The firm has a market capitalization of $4.33 billion, a PE ratio of 18.53 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $891.70 million during the quarter, compared to the consensus estimate of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm's revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. On average, research analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.38%. MSC Industrial Direct's payout ratio is 89.71%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research note on Sunday, April 6th. Robert W. Baird lowered their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Finally, Loop Capital cut their price objective on shares of MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MSC Industrial Direct currently has an average rating of "Hold" and an average price target of $82.20.

Insider Buying and Selling at MSC Industrial Direct

In related news, Director Mitchell Jacobson acquired 27,642 shares of MSC Industrial Direct stock in a transaction dated Tuesday, April 8th. The stock was purchased at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the purchase, the director now directly owns 1,951,725 shares of the company's stock, valued at approximately $136,171,853.25. This trade represents a 1.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 18.30% of the company's stock.

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.