MSC Industrial Direct Co., Inc. (NYSE:MSM) Stock Holdings Trimmed by Tidal Investments LLC

Tidal Investments LLC lessened its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 41.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & 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 SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in MSC Industrial Direct by 8,289.7% during the third quarter. Advisors Asset Management Inc. now owns 17,031 shares of the industrial products company’s stock worth $1,466,000 after purchasing an additional 16,828 shares during the last quarter. Pathstone Holdings LLC lifted its position in shares of MSC Industrial Direct by 36.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,114 shares of the industrial products company’s stock worth $1,989,000 after buying an additional 6,172 shares during the last quarter. XTX Topco Ltd lifted its position in shares of MSC Industrial Direct by 398.1% in the 3rd quarter. XTX Topco Ltd now owns 15,860 shares of the industrial products company’s stock worth $1,365,000 after buying an additional 12,676 shares during the last quarter. American Century Companies Inc. boosted 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 valued at $216,772,000 after buying an additional 1,256,706 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of MSC Industrial Direct by 892.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $60,000 after buying an additional 625 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MSM. Stephens downgraded MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price for the company. in a research note on Wednesday, December 4th. JPMorgan Chase & Co. reduced 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. Finally, Robert W. Baird increased their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and a consensus price target of $85.20.

Insiders Place Their Bets

In related news, Director Philip Peller sold 900 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 4,044 shares in the company, valued at $360,199.08. This trade represents a 18.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Erik Gershwind sold 50,000 shares of the business’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 sale, the chief executive officer now directly owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. 18.80% of the stock is owned by insiders.

MSC Industrial Direct Stock Performance

MSM opened at $76.77 on Friday. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $83.43 and its 200-day moving average is $82.35. The stock has a market cap of $4.29 billion, a PE ratio of 16.76 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $104.76.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The business had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 EPS. On average, analysts predict that MSC Industrial Direct Co., Inc. will post 3.63 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, January 15th. This represents a $3.40 annualized dividend and a yield of 4.43%. MSC Industrial Direct’s payout ratio is 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.