Tidal Investments LLC Sells 6,872 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Tidal Investments LLC lessened its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 41.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,674 shares of the industrial products company's stock after selling 6,872 shares during the period. Tidal Investments LLC's holdings in MSC Industrial Direct were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of MSC Industrial Direct by 85.1% in the 2nd quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company's stock worth $216,772,000 after acquiring an additional 1,256,706 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in MSC Industrial Direct by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company's stock worth $134,859,000 after purchasing an additional 113,878 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in MSC Industrial Direct by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the industrial products company's stock worth $74,467,000 after buying an additional 61,022 shares during the period. Pacer Advisors Inc. lifted its stake in MSC Industrial Direct by 11.1% during the third quarter. Pacer Advisors Inc. now owns 918,235 shares of the industrial products company's stock valued at $79,023,000 after buying an additional 91,369 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in MSC Industrial Direct by 12.5% during the second quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company's stock valued at $60,718,000 after buying an additional 84,967 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Price Performance

Shares of MSM traded down $0.25 during trading hours on Friday, hitting $76.77. The stock had a trading volume of 2,051,450 shares, compared to its average volume of 581,324. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 16.76 and a beta of 0.89. 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's fifty day moving average is $83.30 and its two-hundred day moving average is $82.29. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $104.76.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Thursday, October 24th. The industrial products company reported $1.03 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 business had revenue of $952.30 million during the quarter, compared to analyst estimates of $959.74 million. During the same period in the previous year, the firm earned $1.64 earnings per share. The firm's revenue was down 8.0% compared to the same quarter last year. On average, analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.63 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.40 dividend on an annualized basis and a yield of 4.43%. MSC Industrial Direct's payout ratio is presently 74.24%.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,402,849 shares in the company, valued at $126,761,435.64. This trade represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip Peller sold 900 shares of MSC Industrial Direct stock in a transaction that occurred 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 of the company's stock, valued at $360,199.08. This represents a 18.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MSM. JPMorgan Chase & Co. decreased their price objective on 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. Stephens cut shares of 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, December 4th. Finally, Robert W. Baird upped their price objective 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. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, MSC Industrial Direct presently has an average rating of "Hold" and an average target price of $85.20.

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.