SG Americas Securities LLC reduced its position in MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) stock by 84.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). . The fund owned 24,153 shares of the industrial products company after selling 129,735 shares during the period. SG Americas Securities LLC’s interests in MSC Industrial Direct were valued at $1,759,000 at the end of the last reporting period.
A number of other institutional investors have also recently changed their positions in MSM. Strs Ohio increased its stake in MSC Industrial Direct by 23.6% in the second quarter. Strs Ohio now owns 24,512 shares of the industrial products company, valued at $1,841,000, after purchasing an additional 4,683 shares during the period. The Bank of New Hampshire increased its stake in MSC Industrial Direct by 86.8% in the second quarter. The Bank of New Hampshire now owns 1,797 shares of the industrial products company, valued at $135,000, after purchasing an additional 835 shares during the period. Trexquant Investment LP acquired a new interest in MSC Industrial Direct stock valued at $1,389,000 during the second quarter. The National Bank of Canada FI increased its stake in MSC Industrial Direct by 12,200.7% in the third quarter. The National Bank of Canada FI now owns 103,326 shares of the industrial products company valued at $7,524,000 after purchasing an additional 102,486 shares during the period. Finally, Ridgewood Investments LLC increased its stake in MSC Industrial Direct by 1.3% during the third quarter. Ridgewood Investments LLC now owns 15,381 shares of the industrial products company valued at $1,120,000 after purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 73.89% of the company’s shares.
Wall Street analysts are weighing
A number of analysts have recently issued reports on MSM stocks. Robert W. Baird increased his price target on MSC Industrial Direct from $92.00 to $95.00 in a research note on Friday, January 6. KeyCorp lowered its price target on MSC Industrial Direct to $93.00 from $100.00 and gave the stock an “overweight” rating in a research note on Friday, October 14. StockNews.com began coverage of MSC Industrial Direct in a Research Note on Wednesday, October 12. They gave the stock a “buy” rating. Finally, on Monday, October 17th, Jefferies Financial Group revised a rating of “hold” in a research note and published a price target of $84.00 on shares of MSC Industrial Direct. Two research analysts have assigned a hold rating to the stock and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MSC Industrial Direct has a consensus rating of “Moderate Buy” and an average target price of $93.00.
In other news, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction Tuesday, November 22nd. The stock sold at an average price of $85.18 for a total transaction of $4,259,000.00. Following the transaction, the Chief Executive Officer now directly owns 463,723 shares of the Company, valued at approximately $39,499,925.14. The sale was disclosed in a filing with the Securities & Exchange Commission, available through the SEC’s website. Company insiders own 28.39% of the company’s shares.
MSC Industrial direct price performance
NYSE MSM shares opened at $80.39 on Friday. The company has a market cap of $4.49 billion, a P/E of 12.68, a P/E of 2.65, and a beta of 1.02. The company has a quick ratio of 1.15, a current ratio of 2.14 and a debt to equity ratio of 0.32. The stock’s 50-day simple moving average is $82.94 and the 200-day simple moving average is $80.11. MSC Industrial Direct Co., Inc. has a 12-month low of $71.32 and a 12-month high of $87.99.
MSC Industrial Direct (NYSE:MSM – Get Rating) last announced its quarterly earnings data on Thursday, October 20th. The industrial products company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.77 by $0.02. The company had revenue of $1.02 billion in the quarter, compared to analyst estimates of $1 billion. MSC Industrial Direct had a return on equity of 26.97% and a net margin of 9.34%. The company’s revenue increased 23.0% year over year. In the same period last year, the company earned $1.26 per share. As a group, equity analysts expect MSC Industrial Direct Co., Inc. to post 6.07 EPS for the current fiscal year.
MSC Industrial direct dividend announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 24th. Stockholders of record on Tuesday, January 10 will receive a dividend of $0.79 per share. The ex-dividend date is Monday 9th January. That equates to an annualized dividend of $3.16 and a dividend yield of 3.93%. MSC Industrial Direct’s Dividend Payout Ratio (DPR) is currently 49.84%.
Company profile of MSC Industrial Direct
MSC Industrial Direct Co, Inc, along with its subsidiaries, distributes metal fabrication and maintenance, repair and operations (MRO) products and services in the United States, Canada, Mexico and the United Kingdom. MRO products include cutting tools, measuring instruments, tool components, metalworking products, fasteners, flat products, raw materials, abrasives, machine hand and power tools, safety and janitorial supplies, plumbing supplies, material handling products, power transmission components and more electrical equipment.
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