Martingale Asset Management L P Sells 70,938 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Martingale Asset Management L P lessened its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 67.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,669 shares of the industrial products company's stock after selling 70,938 shares during the quarter. Martingale Asset Management L P owned approximately 0.06% of MSC Industrial Direct worth $2,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in shares of MSC Industrial Direct by 1,142.3% in the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 297 shares during the period. Ridgewood Investments LLC bought a new stake in shares of MSC Industrial Direct during the 2nd quarter valued at $26,000. V Square Quantitative Management LLC purchased a new stake in shares of MSC Industrial Direct in the 3rd quarter worth about $26,000. UMB Bank n.a. lifted its position in MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 252 shares during the period. Finally, Quest Partners LLC lifted its position in 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 valued at $28,000 after acquiring an additional 353 shares during the period. Institutional investors own 79.26% of the company's stock.

Insiders Place Their Bets

In related news, Director Philip Peller sold 900 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total transaction of $80,163.00. Following the completion of the transaction, the director now owns 4,044 shares in the company, valued at approximately $360,199.08. This represents a 18.20 % 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 this hyperlink. Also, CEO Erik Gershwind sold 50,000 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the sale, the chief executive officer now owns 1,402,849 shares in the company, valued at $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.80% of the company's stock.

MSC Industrial Direct Stock Performance

Shares of MSM traded up $0.64 during mid-day trading on Friday, hitting $85.88. 339,104 shares of the company traded hands, compared to its average volume of 619,439. MSC Industrial Direct Co., Inc. has a 1 year low of $75.05 and a 1 year high of $104.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. The stock has a 50-day moving average price of $83.79 and a two-hundred day moving average price of $82.93. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 18.75 and a beta of 0.87.

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). The firm had revenue of $952.30 million for the quarter, compared to analysts' expectations of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The firm's revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 EPS. Equities analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.85 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.96%. This is an increase from MSC Industrial Direct's previous quarterly dividend of $0.83. MSC Industrial Direct's dividend payout ratio (DPR) is 74.24%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MSM. Robert W. Baird lifted their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on 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 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 company has an average rating of "Hold" and an average 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.