Cerity Partners LLC Increases Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Cerity Partners LLC raised its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 24.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,595 shares of the industrial products company’s stock after purchasing an additional 1,092 shares during the period. Cerity Partners LLC’s holdings in MSC Industrial Direct were worth $482,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of MSC Industrial Direct by 85.1% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in MSC Industrial Direct by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company’s stock valued at $134,859,000 after acquiring an additional 113,878 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MSC Industrial Direct by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the industrial products company’s stock worth $74,467,000 after acquiring an additional 61,022 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of MSC Industrial Direct by 11.1% in the 3rd quarter. Pacer Advisors Inc. now owns 918,235 shares of the industrial products company’s stock worth $79,023,000 after acquiring an additional 91,369 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of MSC Industrial Direct by 12.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company’s stock valued at $60,718,000 after purchasing an additional 84,967 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Philip Peller sold 900 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the completion of the transaction, the director now directly owns 4,044 shares of the company’s stock, valued at $360,199.08. This represents a 18.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. 18.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

MSM has been the topic of a number of analyst reports. Stephens cut shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price on the stock. in a research report on Wednesday. JPMorgan Chase & Co. decreased 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. Finally, Robert W. Baird increased their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $85.20.

MSC Industrial Direct Price Performance

MSM stock opened at $83.13 on Friday. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 18.15 and a beta of 0.89. The firm’s 50-day moving average price is $83.62 and its two-hundred day moving average price is $82.65. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. MSC Industrial Direct Co., Inc. has a 12-month low of $75.05 and a 12-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). MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The business had revenue of $952.30 million for the quarter, compared to analysts’ expectations of $959.74 million. During the same quarter in the prior year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts predict that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Wednesday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend 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.