Mutual of America Capital Management LLC Sells 1,846 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Mutual of America Capital Management LLC decreased its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,266 shares of the industrial products company’s stock after selling 1,846 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MSC Industrial Direct were worth $2,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MSM. Quent Capital LLC grew its position in shares of MSC Industrial Direct by 57.0% in the 3rd quarter. Quent Capital LLC now owns 372 shares of the industrial products company’s stock valued at $32,000 after buying an additional 135 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in shares of MSC Industrial Direct by 2.4% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,925 shares of the industrial products company’s stock worth $596,000 after buying an additional 161 shares during the period. US Bancorp DE increased its stake in MSC Industrial Direct by 6.5% in the third quarter. US Bancorp DE now owns 2,833 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 173 shares in the last quarter. Arizona State Retirement System raised its stake in MSC Industrial Direct by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 12,609 shares of the industrial products company’s stock worth $1,000,000 after buying an additional 209 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of MSC Industrial Direct by 442.1% in the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 252 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Analyst Ratings Changes

MSM has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of 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 boosted 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $90.20.

MSC Industrial Direct Stock Up 1.5 %

Shares of NYSE MSM opened at $85.41 on Monday. The business has a 50-day simple moving average of $83.50 and a two-hundred day simple moving average of $83.11. The company has a market cap of $4.77 billion, a P/E ratio of 18.65 and a beta of 0.87. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week 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 released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The business had revenue of $952.30 million during the quarter, compared to analysts’ expectations of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 EPS. Research 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.85 per share. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.98%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 74.24%.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, Director Philip Peller sold 900 shares of the business’s stock in a transaction 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 directly owns 4,044 shares of the company’s stock, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 1,402,849 shares in the company, valued at $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.80% of the company’s stock.

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.