MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 67.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,669 shares of the industrial products company’s stock after selling 70,938 shares during the period. Martingale Asset Management L P owned approximately 0.06% of MSC Industrial Direct worth $2,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MSC Industrial Direct by 16.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,146 shares of the industrial products company’s stock worth $19,892,000 after buying an additional 32,013 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MSC Industrial Direct by 29.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,820 shares of the industrial products company’s stock valued at $1,017,000 after purchasing an additional 2,717 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in MSC Industrial Direct in the third quarter valued at approximately $1,290,000. Clifford Capital Partners LLC lifted its stake in MSC Industrial Direct by 139.9% during the third quarter. Clifford Capital Partners LLC now owns 7,516 shares of the industrial products company’s stock worth $647,000 after purchasing an additional 4,383 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of MSC Industrial Direct by 43.4% during the third quarter. BNP Paribas Financial Markets now owns 18,371 shares of the industrial products company’s stock worth $1,581,000 after buying an additional 5,563 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Transactions at MSC Industrial Direct

In related 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 transaction of $4,518,000.00. Following the transaction, the chief executive officer now owns 1,402,849 shares in the company, valued at $126,761,435.64. This trade represents a 3.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 directly owns 4,044 shares in the company, valued at approximately $360,199.08. This trade represents a 18.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.80% of the company’s stock.

Wall Street Analysts Forecast Growth

MSM has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Robert W. Baird raised 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 note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $90.20.

MSC Industrial Direct Price Performance

MSM stock opened at $85.88 on Friday. MSC Industrial Direct Co., Inc. has a 1 year low of $75.05 and a 1 year high of $104.76. The firm has a market capitalization of $4.80 billion, a P/E ratio of 18.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90. The business’s 50-day moving average is $83.79 and its two-hundred day moving average is $83.01.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS 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 analyst estimates of $959.74 million. During the same quarter in the previous year, the firm posted $1.64 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Wednesday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s payout ratio is currently 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.