Commonwealth Equity Services LLC decreased its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,393 shares of the industrial products company’s stock after selling 147 shares during the quarter. Commonwealth Equity Services LLC’s holdings in MSC Industrial Direct were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. GPS Wealth Strategies Group LLC bought a new position in MSC Industrial Direct in the first quarter worth $61,000. Van ECK Associates Corp raised its holdings in MSC Industrial Direct by 17.5% in the fourth quarter. Van ECK Associates Corp now owns 960 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 143 shares in the last quarter. Fieldpoint Private Securities LLC raised its holdings in MSC Industrial Direct by 206.3% in the first quarter. Fieldpoint Private Securities LLC now owns 1,452 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 978 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in MSC Industrial Direct in the first quarter worth $167,000. Finally, AJO LP bought a new position in MSC Industrial Direct in the fourth quarter worth $197,000. 74.82% of the stock is owned by institutional investors.
In other MSC Industrial Direct news, SVP Steve Armstrong sold 18,223 shares of the firm’s stock in a transaction dated Friday, April 9th. The stock was sold at an average price of $90.03, for a total value of $1,640,616.69. Following the transaction, the senior vice president now directly owns 25,633 shares of the company’s stock, valued at $2,307,738.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kari D. Heerdt sold 862 shares of the firm’s stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $92.00, for a total value of $79,304.00. The disclosure for this sale can be found here. Insiders sold 53,168 shares of company stock worth $4,832,563 over the last three months. Insiders own 28.44% of the company’s stock.
MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Tuesday, April 6th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.01. The business had revenue of $774.00 million for the quarter, compared to analysts’ expectations of $778.77 million. MSC Industrial Direct had a return on equity of 21.19% and a net margin of 5.97%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. On average, equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 27th. Shareholders of record on Tuesday, April 13th were given a $0.75 dividend. The ex-dividend date was Monday, April 12th. This represents a $3.00 annualized dividend and a yield of 3.27%. MSC Industrial Direct’s payout ratio is 63.29%.
A number of equities analysts have issued reports on the company. Wells Fargo & Company upgraded MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $105.00 price objective for the company in a report on Wednesday, April 14th. KeyCorp raised their price target on MSC Industrial Direct from $96.00 to $102.00 and gave the company an “overweight” rating in a report on Monday, May 3rd. William Blair upgraded MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft raised their price target on MSC Industrial Direct from $89.00 to $94.00 and gave the company a “hold” rating in a report on Tuesday, April 13th. Finally, TheStreet downgraded MSC Industrial Direct from a “b” rating to a “c+” rating in a report on Wednesday, April 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $91.67.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its 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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