Huntington National Bank Decreases Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Huntington National Bank decreased its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSMFree Report) by 29.1% in the third quarter, Holdings Channel.com reports. The fund owned 803 shares of the industrial products company’s stock after selling 329 shares during the period. Huntington National Bank’s holdings in MSC Industrial Direct were worth $79,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its stake in MSC Industrial Direct by 8.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 52,047 shares of the industrial products company’s stock valued at $5,108,000 after purchasing an additional 4,274 shares in the last quarter. Pathstone Family Office LLC raised its stake in MSC Industrial Direct by 47.8% during the third quarter. Pathstone Family Office LLC now owns 13,948 shares of the industrial products company’s stock valued at $1,369,000 after purchasing an additional 4,511 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in MSC Industrial Direct by 19.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,192 shares of the industrial products company’s stock valued at $804,000 after purchasing an additional 1,315 shares in the last quarter. Van ECK Associates Corp raised its stake in MSC Industrial Direct by 34.5% during the third quarter. Van ECK Associates Corp now owns 11,158 shares of the industrial products company’s stock valued at $1,095,000 after purchasing an additional 2,863 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in MSC Industrial Direct by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,080,301 shares of the industrial products company’s stock valued at $106,032,000 after purchasing an additional 52,633 shares in the last quarter. Institutional investors own 89.51% of the company’s stock.

Insiders Place Their Bets

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 24,501 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the completion of the sale, the director now directly owns 1,683,810 shares in the company, valued at approximately $167,219,171.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Erik Gershwind sold 7,500 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $96.00, for a total value of $720,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,432,038 shares in the company, valued at approximately $137,475,648. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mitchell Jacobson sold 24,501 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the transaction, the director now owns 1,683,810 shares of the company’s stock, valued at $167,219,171.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 260,079 shares of company stock valued at $25,391,780. Insiders own 18.80% of the company’s stock.

MSC Industrial Direct Stock Up 0.2 %

Shares of MSC Industrial Direct stock opened at $98.55 on Monday. The firm’s 50 day moving average price is $98.57 and its 200-day moving average price is $98.66. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a 52-week low of $77.99 and a 52-week high of $105.77. The company has a market cap of $5.56 billion, a P/E ratio of 16.76 and a beta of 0.96.

MSC Industrial Direct (NYSE:MSMGet Free Report) last issued its quarterly earnings data on Tuesday, January 9th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.05). MSC Industrial Direct had a return on equity of 23.46% and a net margin of 8.27%. The firm had revenue of $954.00 million during the quarter, compared to analysts’ expectations of $971.31 million. During the same period in the previous year, the firm earned $1.48 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts predict that MSC Industrial Direct Co., Inc. will post 5.91 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Tuesday, January 9th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Monday, January 8th. MSC Industrial Direct’s dividend payout ratio is presently 56.46%.

Analyst Ratings Changes

Separately, KeyCorp reduced their target price on shares of MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Read Our Latest Stock Report on MSM

About MSC Industrial Direct

(Free Report)

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.

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

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