MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Purchased by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 36.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,114 shares of the industrial products company's stock after purchasing an additional 6,172 shares during the period. Pathstone Holdings LLC's holdings in MSC Industrial Direct were worth $1,989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MSM. Ceera Investments LLC raised its position in shares of MSC Industrial Direct by 49.0% in 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 in the last quarter. Seizert Capital Partners LLC increased its stake in MSC Industrial Direct by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 361,783 shares of the industrial products company's stock worth $31,135,000 after purchasing an additional 11,585 shares during the period. Natixis Advisors LLC boosted its holdings in shares of MSC Industrial Direct by 16.2% during the third quarter. Natixis Advisors LLC now owns 29,592 shares of the industrial products company's stock worth $2,547,000 after purchasing an additional 4,123 shares during the period. Altrius Capital Management Inc bought a new position in MSC Industrial Direct in the 3rd quarter worth $4,645,000. Finally, Valley Wealth Managers Inc. raised its holdings in MSC Industrial Direct by 2.1% in the third quarter. Valley Wealth Managers Inc. now owns 40,777 shares of the industrial products company's stock worth $3,509,000 after purchasing an additional 858 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Stock Performance

NYSE:MSM traded down $0.37 during midday trading on Wednesday, reaching $85.27. The stock had a trading volume of 304,312 shares, compared to its average volume of 579,119. 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 current ratio of 1.96 and a quick ratio of 0.90. The firm's fifty day simple moving average is $83.70 and its 200-day simple moving average is $83.02. The stock has a market capitalization of $4.77 billion, a P/E ratio of 18.68 and a beta of 0.87.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.05). The firm had revenue of $952.30 million during the quarter, compared to the consensus estimate of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 earnings per share. On average, equities research analysts forecast that MSC Industrial Direct Co., Inc. will post 3.65 EPS 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. Shareholders of record on Wednesday, November 13th will be paid a $0.85 dividend. This is a boost from MSC Industrial Direct's previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, November 13th. MSC Industrial Direct's payout ratio is 74.24%.

Insider Activity at MSC Industrial Direct

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the sale, the chief executive officer now owns 1,402,849 shares of the company's stock, valued at $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip Peller sold 900 shares of the business'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 transaction, the director now directly owns 4,044 shares of the company's stock, valued at approximately $360,199.08. This trade represents a 18.20 % decrease in their position. The disclosure for this sale can be found here. 18.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MSM shares. JPMorgan Chase & Co. cut their price objective on MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Robert W. Baird raised their price target 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. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, MSC Industrial Direct has a consensus rating of "Hold" and a consensus target price 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.