The Manufacturers Life Insurance Company Trims Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

The Manufacturers Life Insurance Company trimmed its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,911 shares of the industrial products company’s stock after selling 1,852 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of MSC Industrial Direct worth $3,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. CWM LLC grew its stake in MSC Industrial Direct by 182.0% in the second quarter. CWM LLC now owns 863 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 557 shares in the last quarter. Simplicity Wealth LLC increased its stake in shares of MSC Industrial Direct by 10.1% during the second quarter. Simplicity Wealth LLC now owns 8,222 shares of the industrial products company’s stock valued at $652,000 after buying an additional 756 shares during the period. SG Americas Securities LLC bought a new stake in shares of MSC Industrial Direct in the second quarter valued at about $3,101,000. Blue Trust Inc. lifted its stake in MSC Industrial Direct by 1,142.3% in the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 297 shares during the period. Finally, Neo Ivy Capital Management bought a new position in MSC Industrial Direct during the 2nd quarter worth about $2,895,000. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Stock Down 0.3 %

Shares of MSC Industrial Direct stock opened at $83.13 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.65 billion, a P/E ratio of 18.15 and a beta of 0.89. The firm’s 50 day moving average price is $83.62 and its 200-day moving average price is $82.65. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $104.76.

MSC Industrial Direct (NYSE:MSM) last issued 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 business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. On average, sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a 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 (DPR) is currently 74.24%.

Wall Street Analyst Weigh In

MSM has been the subject of several recent research reports. Stephens lowered shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price target for the company. in a report on Wednesday. Robert W. Baird boosted their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their target price on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.20.

Insider Transactions at MSC Industrial Direct

In related news, 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 completion of the sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip Peller sold 900 shares of the company’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. The trade was 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.

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.