MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC lowered its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 22.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,467 shares of the industrial products company’s stock after selling 413 shares during the period. Sound Income Strategies LLC’s holdings in MSC Industrial Direct were worth $110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in MSC Industrial Direct in the 4th quarter worth about $420,000. SG Americas Securities LLC increased its position in shares of MSC Industrial Direct by 1,702.1% in the fourth quarter. SG Americas Securities LLC now owns 22,202 shares of the industrial products company’s stock valued at $1,658,000 after buying an additional 20,970 shares in the last quarter. Sharp Financial Services LLC acquired a new position in shares of MSC Industrial Direct during the 4th quarter worth approximately $332,000. Red Spruce Capital LLC lifted its position in shares of MSC Industrial Direct by 12.4% during the 4th quarter. Red Spruce Capital LLC now owns 21,677 shares of the industrial products company’s stock valued at $1,619,000 after buying an additional 2,392 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in MSC Industrial Direct by 54.0% in the 4th quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Trading Up 0.6 %

MSM opened at $82.99 on Friday. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 19.81 and a beta of 0.91. The company’s 50 day simple moving average is $81.19 and its two-hundred day simple moving average is $82.10. MSC Industrial Direct Co., Inc. has a 1-year low of $72.79 and a 1-year high of $104.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.80% and a net margin of 6.21%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. Analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Wednesday, January 15th. MSC Industrial Direct’s dividend payout ratio is currently 81.15%.

Wall Street Analysts Forecast Growth

MSM has been the subject of a number of research analyst reports. Stephens cut shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research report on Wednesday, December 4th. Robert W. Baird raised their price target on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Wolfe Research started coverage on MSC Industrial Direct in a research note on Thursday, January 16th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.80.

Insider Buying and Selling

In other news, CEO Erik Gershwind sold 50,000 shares of the 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 owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. This represents a 3.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Philip Peller sold 900 shares of MSC Industrial Direct 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 sale, the director now directly owns 4,044 shares in the company, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. 18.30% of the stock is owned by company insiders.

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.