Martingale Asset Management L P Sells 26,920 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Martingale Asset Management L P reduced its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 77.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,749 shares of the industrial products company's stock after selling 26,920 shares during the period. Martingale Asset Management L P's holdings in MSC Industrial Direct were worth $579,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in shares of MSC Industrial Direct by 13.5% in the fourth quarter. Renaissance Technologies LLC now owns 459,100 shares of the industrial products company's stock worth $34,290,000 after buying an additional 54,600 shares in the last quarter. FIL Ltd raised its holdings in shares of MSC Industrial Direct by 17.9% during the 4th quarter. FIL Ltd now owns 260,300 shares of the industrial products company's stock worth $19,442,000 after acquiring an additional 39,560 shares in the last quarter. Invesco Ltd. boosted its position in shares of MSC Industrial Direct by 127.5% during the 4th quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock valued at $90,137,000 after acquiring an additional 676,238 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of MSC Industrial Direct by 102.5% in the fourth quarter. Federated Hermes Inc. now owns 38,311 shares of the industrial products company's stock valued at $2,861,000 after purchasing an additional 19,389 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its position in MSC Industrial Direct by 603.8% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 10,655 shares of the industrial products company's stock worth $796,000 after purchasing an additional 9,141 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Remove Ads

MSC Industrial Direct Trading Down 1.1 %

Shares of MSM stock traded down $0.88 during trading hours on Tuesday, reaching $77.10. 550,274 shares of the stock were exchanged, compared to its average volume of 631,675. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a 12-month low of $68.10 and a 12-month high of $94.31. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 18.40 and a beta of 0.89. The company's 50-day moving average price is $78.27 and its 200-day moving average price is $80.70.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm had revenue of $891.70 million for the quarter, compared to analysts' expectations of $908.30 million. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The company's quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 annualized dividend and a dividend yield of 4.41%. MSC Industrial Direct's dividend payout ratio (DPR) is 89.71%.

Insider Activity

In related news, Director Mitchell Jacobson acquired 27,642 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was bought at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the acquisition, the director now directly owns 1,951,725 shares of the company's stock, valued at $136,171,853.25. This represents a 1.44 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 18.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MSM shares. Robert W. Baird lowered their price objective on shares of 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. Loop Capital dropped their price target on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Finally, Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Seven research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, MSC Industrial Direct presently has a consensus rating of "Hold" and a consensus target price of $82.20.

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.