Boston Private Wealth LLC Sells 1,612 Shares of MSC Industrial Direct Co Inc (NYSE:MSM)

Boston Private Wealth LLC lessened its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 22.4% in the third quarter, HoldingsChannel reports. The firm owned 5,596 shares of the industrial products company’s stock after selling 1,612 shares during the period. Boston Private Wealth LLC’s holdings in MSC Industrial Direct were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. First Hawaiian Bank boosted its stake in shares of MSC Industrial Direct by 22.6% during the 2nd quarter. First Hawaiian Bank now owns 7,405 shares of the industrial products company’s stock worth $550,000 after acquiring an additional 1,366 shares during the last quarter. Hamlin Capital Management LLC purchased a new position in shares of MSC Industrial Direct during the 2nd quarter worth $52,364,000. HighTower Advisors LLC purchased a new position in shares of MSC Industrial Direct during the 2nd quarter worth $302,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of MSC Industrial Direct by 2.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 352,609 shares of the industrial products company’s stock worth $26,185,000 after acquiring an additional 7,990 shares during the last quarter. Finally, Paradice Investment Management LLC boosted its stake in shares of MSC Industrial Direct by 23.7% during the 2nd quarter. Paradice Investment Management LLC now owns 724,838 shares of the industrial products company’s stock worth $53,826,000 after acquiring an additional 138,639 shares during the last quarter. 75.41% of the stock is owned by institutional investors and hedge funds.

MSM opened at $75.30 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 2.68. MSC Industrial Direct Co Inc has a fifty-two week low of $64.59 and a fifty-two week high of $90.25. The firm’s fifty day moving average is $72.15 and its 200 day moving average is $72.38. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Thursday, October 24th. The industrial products company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. MSC Industrial Direct had a net margin of 8.59% and a return on equity of 20.63%. The company had revenue of $842.70 million for the quarter, compared to analysts’ expectations of $837.97 million. During the same quarter in the previous year, the company earned $1.29 EPS. MSC Industrial Direct’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that MSC Industrial Direct Co Inc will post 5.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, November 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is 56.71%.

In related news, CFO Rustom Jilla sold 7,907 shares of MSC Industrial Direct stock in a transaction on Monday, November 4th. The shares were sold at an average price of $75.51, for a total transaction of $597,057.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 27.96% of the stock is currently owned by insiders.

MSM has been the topic of several analyst reports. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Co set a $60.00 price target on shares of MSC Industrial Direct and gave the stock a “sell” rating in a research note on Friday, October 25th. Stephens set a $76.00 price target on shares of MSC Industrial Direct and gave the stock a “hold” rating in a research note on Friday, October 25th. Raymond James cut shares of MSC Industrial Direct from a “market perform” rating to an “underperform” rating in a research note on Thursday. Finally, ValuEngine upgraded shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $78.10.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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