Aigen Investment Management LP Has $1.07 Million Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Aigen Investment Management LP decreased its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 63.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,389 shares of the industrial products company's stock after selling 21,836 shares during the quarter. Aigen Investment Management LP's holdings in MSC Industrial Direct were worth $1,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. American Century Companies Inc. raised its position in shares of MSC Industrial Direct by 85.1% in the 2nd quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company's stock valued at $216,772,000 after buying an additional 1,256,706 shares in the last quarter. Swedbank AB acquired a new position in shares of MSC Industrial Direct in the 1st quarter valued at approximately $16,571,000. Allspring Global Investments Holdings LLC raised its position in shares of MSC Industrial Direct by 804.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 173,653 shares of the industrial products company's stock valued at $13,772,000 after buying an additional 154,454 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of MSC Industrial Direct by 1,715.2% in the 2nd quarter. Renaissance Technologies LLC now owns 143,400 shares of the industrial products company's stock valued at $11,373,000 after buying an additional 135,500 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of MSC Industrial Direct by 458.4% in the 2nd quarter. Millennium Management LLC now owns 119,700 shares of the industrial products company's stock valued at $9,493,000 after buying an additional 98,265 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Trading Down 1.4 %

MSM traded down $1.26 during trading on Wednesday, reaching $87.48. 706,617 shares of the company's stock were exchanged, compared to its average volume of 581,991. 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 current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.89 billion, a PE ratio of 19.10 and a beta of 0.87. The firm has a fifty day moving average price of $82.82 and a two-hundred day moving average price of $83.58.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted 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). MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The firm had revenue of $952.30 million during the quarter, compared to the consensus estimate of $959.74 million. During the same period in the prior year, the company posted $1.64 earnings per share. The company's revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 13th. This is a positive change from MSC Industrial Direct's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.89%. MSC Industrial Direct's dividend payout ratio is currently 72.49%.

Insider Buying and Selling

In related news, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction on Monday, November 11th. The shares were 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 of the company's stock, valued at $126,761,435.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MSM. Robert W. Baird boosted their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $90.20.

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.