Principal Financial Group Inc. Has $8.96 Million Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Principal Financial Group Inc. trimmed its position in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 31.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,109 shares of the industrial products company's stock after selling 47,804 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of MSC Industrial Direct worth $8,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in MSC Industrial Direct in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. lifted its position in shares of MSC Industrial Direct by 442.1% in the third quarter. UMB Bank n.a. now owns 309 shares of the industrial products company's stock worth $27,000 after purchasing an additional 252 shares in the last quarter. Quest Partners LLC boosted its holdings in MSC Industrial Direct by 35,300.0% during the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company's stock worth $28,000 after purchasing an additional 353 shares during the last quarter. Quent Capital LLC grew its position in MSC Industrial Direct by 57.0% in the third quarter. Quent Capital LLC now owns 372 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 135 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in MSC Industrial Direct by 53.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company's stock valued at $35,000 after buying an additional 141 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MSC Industrial Direct

In related news, CEO Erik Gershwind sold 50,000 shares of the business's stock in a transaction on 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 directly owns 1,402,849 shares in the company, valued at $126,761,435.64. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Philip Peller sold 900 shares of the stock in a transaction on Wednesday, November 13th. The stock was 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. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. 18.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MSM shares. JPMorgan Chase & Co. reduced their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Robert W. Baird raised their price target on MSC Industrial Direct from $84.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Finally, Stephens cut MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price objective on the stock. in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $85.20.

MSC Industrial Direct Stock Performance

NYSE MSM traded up $1.60 during trading on Tuesday, reaching $74.69. 673,971 shares of the company's stock were exchanged, compared to its average volume of 579,113. MSC Industrial Direct Co., Inc. has a fifty-two week low of $72.79 and a fifty-two week high of $104.76. The stock has a market capitalization of $4.18 billion, a P/E ratio of 16.31 and a beta of 0.89. The business has a 50 day moving average price of $82.39 and a 200-day moving average price of $81.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90.

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 analysts' consensus estimates of $1.08 by ($0.05). MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The business had revenue of $952.30 million during the quarter, compared to the consensus estimate of $959.74 million. During the same quarter last year, the company posted $1.64 EPS. The firm's revenue was down 8.0% on a year-over-year basis. Sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 3.63 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Wednesday, January 15th. MSC Industrial Direct's payout ratio is 74.24%.

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.