MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 20.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,903 shares of the industrial products company's stock after selling 10,692 shares during the quarter. Franklin Resources Inc. owned approximately 0.07% of MSC Industrial Direct worth $3,478,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSM. V Square Quantitative Management LLC purchased a new stake in shares of MSC Industrial Direct during the third quarter worth about $26,000. UMB Bank n.a. grew its stake in MSC Industrial Direct by 442.1% in the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company's stock worth $27,000 after acquiring an additional 252 shares during the period. Ridgewood Investments LLC acquired a new position in MSC Industrial Direct in the 2nd quarter valued at $26,000. Quest Partners LLC lifted its stake in shares of 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 worth $28,000 after purchasing an additional 353 shares during the period. Finally, Quent Capital LLC boosted its holdings in shares of MSC Industrial Direct by 57.0% during the third quarter. Quent Capital LLC now owns 372 shares of the industrial products company's stock worth $32,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Trading Up 1.1 %

NYSE:MSM traded up $0.83 on Wednesday, hitting $76.71. 184,173 shares of the stock were exchanged, compared to its average volume of 579,397. The stock has a fifty day moving average of $82.92 and a 200-day moving average of $82.09. The stock has a market cap of $4.29 billion, a PE ratio of 16.75 and a beta of 0.89. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $104.76.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The business had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The firm's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $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 fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, January 15th. This represents a $3.40 annualized dividend and a dividend yield of 4.43%. MSC Industrial Direct's payout ratio is 74.24%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MSM shares. Robert W. Baird upped their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Stephens downgraded shares of MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price objective for the company. in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $85.20.

Insider Activity at MSC Industrial Direct

In related news, Director Philip Peller sold 900 shares of MSC Industrial Direct stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the completion of the sale, the director now owns 4,044 shares in the company, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction dated 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 completion of 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 trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is owned by insiders.

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.