MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,119 shares of the industrial products company's stock after selling 18,639 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.28% of MSC Industrial Direct worth $13,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MSM. GHP Investment Advisors Inc. grew its stake in shares of MSC Industrial Direct by 67.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 22,693 shares of the industrial products company's stock worth $1,953,000 after purchasing an additional 9,147 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in MSC Industrial Direct by 10.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,268 shares of the industrial products company's stock valued at $2,462,000 after buying an additional 2,726 shares during the period. Tectonic Advisors LLC increased its holdings in MSC Industrial Direct by 27.0% in the third quarter. Tectonic Advisors LLC now owns 62,343 shares of the industrial products company's stock valued at $5,365,000 after buying an additional 13,258 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of MSC Industrial Direct by 3.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 21,749 shares of the industrial products company's stock worth $1,872,000 after acquiring an additional 738 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of MSC Industrial Direct by 15.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 200,945 shares of the industrial products company's stock worth $17,293,000 after acquiring an additional 27,292 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Price Performance

MSM stock traded down $0.34 during midday trading on Wednesday, reaching $82.08. The stock had a trading volume of 610,236 shares, compared to its average volume of 572,249. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week 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 company's fifty day simple moving average is $82.02 and its 200 day simple moving average is $84.07. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 18.00 and a beta of 0.86.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share 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 during the quarter, compared to analysts' expectations of $959.74 million. During the same period in the prior year, the business posted $1.64 earnings per share. The business's quarterly revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 4.79 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from MSC Industrial Direct's previous quarterly dividend of $0.83. MSC Industrial Direct's payout ratio is currently 72.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Loop Capital reduced their price target on MSC Industrial Direct from $80.00 to $75.00 and set a "hold" rating for the company in a report on Wednesday, July 3rd. Robert W. Baird increased their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a 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. According to MarketBeat.com, MSC Industrial Direct has an average rating of "Hold" and an average price target of $90.20.

MSC Industrial Direct 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.