Quantbot Technologies LP Sells 37,134 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Quantbot Technologies LP cut its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 97.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,066 shares of the industrial products company's stock after selling 37,134 shares during the period. Quantbot Technologies LP's holdings in MSC Industrial Direct were worth $92,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Quent Capital LLC increased its position in shares of MSC Industrial Direct by 57.0% during the 3rd quarter. Quent Capital LLC now owns 372 shares of the industrial products company's stock worth $32,000 after purchasing an additional 135 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in MSC Industrial Direct by 53.0% during the third quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company's stock worth $35,000 after purchasing an additional 141 shares during the period. Frank Rimerman Advisors LLC increased its position in MSC Industrial Direct by 2.4% during the third quarter. Frank Rimerman Advisors LLC now owns 6,925 shares of the industrial products company's stock worth $596,000 after buying an additional 161 shares during the last quarter. US Bancorp DE increased its position in MSC Industrial Direct by 6.5% during the third quarter. US Bancorp DE now owns 2,833 shares of the industrial products company's stock worth $244,000 after buying an additional 173 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in MSC Industrial Direct by 1.7% in the second quarter. Arizona State Retirement System now owns 12,609 shares of the industrial products company's stock valued at $1,000,000 after buying an additional 209 shares during the period. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Price Performance

MSM stock traded down $0.22 during midday trading on Friday, reaching $83.13. The company had a trading volume of 409,878 shares, compared to its average volume of 556,663. 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 50 day moving average price of $83.62 and a 200-day moving average price of $82.71. 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 company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 18.15 and a beta of 0.89.

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

MSC Industrial Direct Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from MSC Industrial Direct's previous quarterly dividend of $0.83. MSC Industrial Direct's payout ratio is currently 74.24%.

Insiders Place Their Bets

In other MSC Industrial Direct news, 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 sale, the director now owns 4,044 shares of the company's stock, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction on 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 completion of the transaction, 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 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 equities research analysts have issued reports on MSM shares. Stephens downgraded MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 price target for the company. in a report on Wednesday. Robert W. Baird upped 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 note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut 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 report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of "Hold" and a consensus target price of $85.20.

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.