Meeder Asset Management Inc. Sells 21,308 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Meeder Asset Management Inc. cut its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 93.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,569 shares of the industrial products company's stock after selling 21,308 shares during the period. Meeder Asset Management Inc.'s holdings in MSC Industrial Direct were worth $117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP increased its position 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 during the period. UMB Bank n.a. lifted its stake in 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 worth $36,000 after purchasing an additional 167 shares during the period. Synergy Asset Management LLC acquired a new stake in MSC Industrial Direct during the fourth quarter valued at approximately $36,000. V Square Quantitative Management LLC raised its holdings 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 in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in MSC Industrial Direct by 38.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 962 shares of the industrial products company's stock valued at $83,000 after buying an additional 267 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

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MSC Industrial Direct Price Performance

NYSE MSM traded down $3.97 on Friday, hitting $71.19. 986,614 shares of the company were exchanged, compared to its average volume of 621,671. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.98 billion, a P/E ratio of 16.99 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a 1-year low of $70.13 and a 1-year high of $95.88. The firm has a 50 day moving average of $79.50 and a two-hundred day moving average of $81.34.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The company had revenue of $891.70 million for the quarter, compared to analyst estimates of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. During the same period in the prior year, the business earned $1.18 earnings per share. MSC Industrial Direct's quarterly revenue was down 4.7% on a year-over-year basis. On average, equities analysts predict 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 will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 annualized dividend and a dividend yield of 4.78%. MSC Industrial Direct's dividend payout ratio (DPR) is currently 81.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MSM shares. Loop Capital cut their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a report on Friday. Robert W. Baird reduced their price target on shares of MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Wolfe Research assumed coverage on shares of MSC Industrial Direct in a report on Thursday, January 16th. They set an "outperform" rating and a $95.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $82.20.

About MSC Industrial Direct

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.