MSC Industrial Direct Co., Inc. (NYSE:MSM) Sees Large Increase in Short Interest

MSC Industrial Direct Co., Inc. (NYSE:MSM) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,430,000 shares, a growth of 23.4% from the October 31st total of 2,780,000 shares. Approximately 7.8% of the company’s shares are short sold. Based on an average daily volume of 663,500 shares, the short-interest ratio is currently 5.2 days.

MSC Industrial Direct Stock Performance

Shares of MSC Industrial Direct stock traded down $0.87 during trading hours on Monday, reaching $85.01. 489,315 shares of the stock traded hands, compared to its average volume of 578,569. The company has a 50 day moving average price of $83.79 and a 200 day moving average price of $82.86. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 18.75 and a beta of 0.87. MSC Industrial Direct has a one year low of $75.05 and a one year high of $104.76. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data 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 net margin of 6.77% and a return on equity of 19.35%. The company had revenue of $952.30 million for the quarter, compared to analysts’ expectations of $959.74 million. During the same period in the previous year, the firm earned $1.64 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities research analysts expect that MSC Industrial Direct 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 is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Wednesday, November 13th. MSC Industrial Direct’s payout ratio is presently 74.24%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MSM. JPMorgan Chase & Co. dropped their price target on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.20.

Insider Transactions at MSC Industrial Direct

In related news, CEO Erik Gershwind sold 50,000 shares of the firm’s 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. This trade represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Philip Peller sold 900 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 4,044 shares of the company’s stock, valued at $360,199.08. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Fulcrum Equity Management purchased a new position in shares of MSC Industrial Direct during the 3rd quarter valued at about $204,000. TD Private Client Wealth LLC lifted its holdings in MSC Industrial Direct by 2.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 25,675 shares of the industrial products company’s stock worth $2,210,000 after purchasing an additional 511 shares in the last quarter. Arete Wealth Advisors LLC purchased a new position in MSC Industrial Direct in the 3rd quarter worth approximately $248,000. Sunbelt Securities Inc. lifted its holdings in MSC Industrial Direct by 38.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 962 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 267 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in MSC Industrial Direct by 5.8% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 641,779 shares of the industrial products company’s stock worth $55,232,000 after purchasing an additional 35,077 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

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.