Principal Financial Group Inc. Sells 47,804 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Principal Financial Group Inc. lowered its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 31.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,109 shares of the industrial products company's stock after selling 47,804 shares during the quarter. Principal Financial Group Inc. owned about 0.19% of MSC Industrial Direct worth $8,960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Blue Trust Inc. raised its stake in MSC Industrial Direct by 1,142.3% during the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company's stock valued at $26,000 after buying an additional 297 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in MSC Industrial Direct during the 2nd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in MSC Industrial Direct during the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its holdings in 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 buying an additional 252 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of MSC Industrial Direct by 35,300.0% in the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company's stock worth $28,000 after buying an additional 353 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Stock Performance

Shares of MSM stock traded down $0.93 on Tuesday, reaching $81.48. The stock had a trading volume of 192,275 shares, compared to its average volume of 579,884. 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 1 year low of $75.05 and a 1 year high of $104.76. The stock has a market cap of $4.55 billion, a P/E ratio of 17.70 and a beta of 0.87. The company has a 50 day simple moving average of $83.15 and a 200 day simple moving average of $83.36.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its 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). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The firm had revenue of $952.30 million during the quarter, compared to analysts' expectations of $959.74 million. During the same period in the previous year, the business posted $1.64 earnings per share. The company's revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts expect that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current year.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from MSC Industrial Direct's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 4.17%. MSC Industrial Direct's dividend payout ratio (DPR) is presently 74.24%.

Insider Transactions at MSC Industrial Direct

In related news, Director Philip Peller sold 900 shares of MSC Industrial Direct 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 owns 4,044 shares in the company, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Erik Gershwind sold 50,000 shares of the 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 owns 1,402,849 shares of the company's stock, valued at $126,761,435.64. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MSM. 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 research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their target price 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. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.