M&T Bank Corp Trims Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

M&T Bank Corp lessened its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,491 shares of the industrial products company’s stock after selling 270 shares during the period. M&T Bank Corp’s holdings in MSC Industrial Direct were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in shares of MSC Industrial Direct by 53.0% during the third quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 141 shares during the last quarter. Allworth Financial LP grew its position in MSC Industrial Direct by 412.0% during the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock valued at $35,000 after buying an additional 342 shares during the period. UMB Bank n.a. grew its position in MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock valued at $36,000 after buying an additional 167 shares during the period. Synergy Asset Management LLC acquired a new stake in MSC Industrial Direct during the fourth quarter valued at $36,000. Finally, V Square Quantitative Management LLC grew its position in MSC Industrial Direct by 77.0% during the fourth quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock valued at $40,000 after buying an additional 231 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Up 3.6 %

Shares of NYSE MSM opened at $77.16 on Friday. The company’s 50-day simple moving average is $80.63 and its 200-day simple moving average is $81.55. MSC Industrial Direct Co., Inc. has a 52-week low of $72.79 and a 52-week high of $100.35. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 18.41 and a beta of 0.90. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. The firm had revenue of $928.50 million for the quarter, compared to the consensus estimate of $904.90 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. Equities analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Wednesday, January 15th. MSC Industrial Direct’s dividend payout ratio is currently 81.15%.

Analyst Ratings Changes

MSM has been the topic of several analyst reports. Stephens lowered shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price target on the stock. in a research report on Wednesday, December 4th. Wolfe Research began coverage on shares of MSC Industrial Direct in a research report on Thursday, January 16th. They set an “outperform” rating and a $95.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.80.

About MSC Industrial Direct

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.