TD Private Client Wealth LLC Sells 23,561 Shares of MSC Industrial Direct Company, Inc. $MSM

TD Private Client Wealth LLC decreased its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 77.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,920 shares of the industrial products company’s stock after selling 23,561 shares during the quarter. TD Private Client Wealth LLC’s holdings in MSC Industrial Direct were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in MSC Industrial Direct in the third quarter worth $31,000. EverSource Wealth Advisors LLC grew its position in shares of MSC Industrial Direct by 130.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after buying an additional 326 shares during the period. First Horizon Advisors Inc. increased its stake in shares of MSC Industrial Direct by 52.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 204 shares in the last quarter. NewEdge Advisors LLC lifted its position in MSC Industrial Direct by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 333 shares during the period. Finally, Traub Capital Management LLC purchased a new position in MSC Industrial Direct during the 2nd quarter valued at about $73,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of MSM opened at $84.74 on Friday. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 23.15 and a beta of 0.85. The business’s fifty day simple moving average is $85.84 and its two-hundred day simple moving average is $87.68. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $94.31. The company has a current ratio of 1.73, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The firm had revenue of $965.68 million for the quarter, compared to the consensus estimate of $962.52 million. During the same period in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, January 14th. MSC Industrial Direct’s dividend payout ratio is currently 95.08%.

Insider Buying and Selling

In related news, Director Mitchell Jacobson purchased 95,779 shares of MSC Industrial Direct stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $84.92 per share, for a total transaction of $8,133,552.68. Following the acquisition, the director owned 2,219,295 shares in the company, valued at approximately $188,462,531.40. The trade was a 4.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip Peller acquired 6,666 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $90.14 per share, for a total transaction of $600,873.24. Following the completion of the transaction, the director directly owned 9,537 shares in the company, valued at $859,665.18. This trade represents a 232.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 211,342 shares of company stock valued at $17,951,965. Company insiders own 19.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $85.00 target price on shares of MSC Industrial Direct in a report on Thursday, January 8th. Zacks Research cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Wolfe Research cut MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a report on Friday, October 31st. Finally, Robert W. Baird set a $94.00 price target on shares of MSC Industrial Direct in a research note on Thursday, January 8th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.67.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.