Meeder Asset Management Inc. Reduces Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Meeder Asset Management Inc. reduced its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 72.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,877 shares of the industrial products company's stock after selling 60,497 shares during the quarter. Meeder Asset Management Inc.'s holdings in MSC Industrial Direct were worth $1,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MSM. Pathstone Holdings LLC raised its stake in shares of MSC Industrial Direct by 36.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,114 shares of the industrial products company's stock worth $1,989,000 after purchasing an additional 6,172 shares during the period. Ceera Investments LLC increased its holdings in MSC Industrial Direct by 49.0% during the third quarter. Ceera Investments LLC now owns 11,006 shares of the industrial products company's stock worth $947,000 after buying an additional 3,621 shares during the last quarter. Seizert Capital Partners LLC raised its position in MSC Industrial Direct by 3.3% in the third quarter. Seizert Capital Partners LLC now owns 361,783 shares of the industrial products company's stock worth $31,135,000 after acquiring an additional 11,585 shares during the period. Natixis Advisors LLC raised its position in MSC Industrial Direct by 16.2% in the third quarter. Natixis Advisors LLC now owns 29,592 shares of the industrial products company's stock worth $2,547,000 after acquiring an additional 4,123 shares during the period. Finally, Altrius Capital Management Inc purchased a new position in MSC Industrial Direct in the third quarter valued at about $4,645,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock traded down $1.79 during midday trading on Tuesday, reaching $80.62. 527,815 shares of the stock were exchanged, compared to its average volume of 581,382. The company's fifty day moving average is $83.20 and its 200-day moving average is $83.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $104.76. The firm has a market cap of $4.51 billion, a PE ratio of 17.60 and a beta of 0.87.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The business had revenue of $952.30 million for the quarter, compared to analysts' expectations of $959.74 million. During the same quarter in the previous year, the firm earned $1.64 earnings per share. MSC Industrial Direct's quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current year.

MSC Industrial Direct Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given 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 4.22%. MSC Industrial Direct's payout ratio is presently 74.24%.

Insider Transactions at MSC Industrial Direct

In other news, CEO Erik Gershwind sold 50,000 shares of the company'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 transaction, the chief executive officer now directly owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This represents a 3.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip Peller sold 900 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the transaction, the director now owns 4,044 shares in the company, valued at $360,199.08. This trade represents a 18.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MSM. Robert W. Baird raised their price target on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Six 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 company presently has an average rating of "Hold" and a consensus price target of $90.20.

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.