MSC Industrial Direct Co., Inc. (NYSE:MSM) Holdings Reduced by Gabelli Funds LLC

Gabelli Funds LLC cut its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,300 shares of the industrial products company's stock after selling 3,600 shares during the quarter. Gabelli Funds LLC's holdings in MSC Industrial Direct were worth $919,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In related news, Director Mitchell Jacobson bought 27,642 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was bought at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the purchase, the director now directly owns 1,951,725 shares in the company, valued at approximately $136,171,853.25. The trade was a 1.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MSM has been the topic of several research reports. Robert W. Baird cut their target price on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Finally, Loop Capital reduced their price target on 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 research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $82.20.

MSC Industrial Direct Stock Down 0.1 %

Shares of MSC Industrial Direct stock traded down $0.10 on Friday, hitting $77.91. 61,128 shares of the company's stock traded hands, compared to its average volume of 661,226. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average is $77.64 and its 200 day moving average is $80.37. The stock has a market cap of $4.34 billion, a P/E ratio of 18.59 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a 52-week low of $68.10 and a 52-week high of $94.31.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. During the same period last year, the business earned $1.18 EPS. The firm's revenue for the quarter was down 4.7% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Wednesday, April 9th. MSC Industrial Direct's dividend payout ratio is currently 89.71%.

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.