Buffington Mohr McNeal Reduces Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Buffington Mohr McNeal lessened its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the industrial products company’s stock after selling 700 shares during the quarter. Buffington Mohr McNeal’s holdings in MSC Industrial Direct were worth $304,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new position in shares of MSC Industrial Direct during the 4th quarter valued at $25,000. Quent Capital LLC lifted its holdings in MSC Industrial Direct by 168.8% during the third quarter. Quent Capital LLC now owns 516 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 324 shares during the last quarter. Altshuler Shaham Ltd boosted its position in MSC Industrial Direct by 154.8% during the fourth quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 486 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of MSC Industrial Direct in the fourth quarter worth about $77,000. Finally, Headlands Technologies LLC bought a new stake in shares of MSC Industrial Direct in the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of MSM stock traded down $0.94 during trading on Tuesday, hitting $91.50. The company had a trading volume of 220,331 shares, compared to its average volume of 485,003. MSC Industrial Direct Co., Inc. has a 52 week low of $88.14 and a 52 week high of $105.77. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 16.60 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average is $97.76 and its two-hundred day moving average is $98.21.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Thursday, March 28th. The industrial products company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.02. The firm had revenue of $935.30 million for the quarter, compared to analysts’ expectations of $946.55 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted $1.45 EPS. As a group, analysts predict that MSC Industrial Direct Co., Inc. will post 5.83 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th will be given a dividend of $0.83 per share. The ex-dividend date is Monday, April 8th. This represents a $3.32 annualized dividend and a dividend yield of 3.63%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 59.61%.

Insider Activity at MSC Industrial Direct

In other news, CEO Erik Gershwind sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $96.15, for a total value of $1,442,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,417,038 shares in the company, valued at approximately $136,248,203.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Erik Gershwind sold 15,000 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $96.15, for a total value of $1,442,250.00. Following the transaction, the chief executive officer now owns 1,417,038 shares in the company, valued at $136,248,203.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mitchell Jacobson sold 137,716 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $97.66, for a total value of $13,449,344.56. Following the sale, the director now owns 1,708,311 shares of the company’s stock, valued at $166,833,652.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 247,003 shares of company stock valued at $24,121,663. Corporate insiders own 18.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. KeyCorp reduced their target price on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 10th. Finally, Stephens restated an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a research report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, MSC Industrial Direct presently has an average rating of “Moderate Buy” and a consensus price target of $107.00.

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.