Headlands Technologies LLC Takes $93,000 Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Headlands Technologies LLC purchased a new stake in MSC Industrial Direct Co., Inc. (NYSE:MSMFree Report) in the 3rd quarter, Holdings Channel reports. The fund purchased 946 shares of the industrial products company’s stock, valued at approximately $93,000.

Several other hedge funds have also modified their holdings of MSM. Institutional & Family Asset Management LLC acquired a new stake in shares of MSC Industrial Direct in the 2nd quarter valued at approximately $32,000. Alaska Permanent Fund Corp acquired a new stake in MSC Industrial Direct in the second quarter valued at $41,000. Quent Capital LLC grew its holdings in MSC Industrial Direct by 168.8% in 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 grew its holdings in MSC Industrial Direct by 154.8% in the fourth quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 486 shares during the last quarter. Finally, Huntington National Bank grew its holdings in MSC Industrial Direct by 57.2% in the second quarter. Huntington National Bank now owns 1,132 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 412 shares during the last quarter. 89.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MSC Industrial Direct

In related news, CEO Erik Gershwind sold 7,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,432,038 shares in the company, valued at $137,475,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Erik Gershwind sold 7,500 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $96.00, for a total transaction of $720,000.00. Following the sale, the chief executive officer now owns 1,432,038 shares in the company, valued at $137,475,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kristen Actis-Grande sold 2,690 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $98.57, for a total transaction of $265,153.30. Following the sale, the chief financial officer now owns 4,622 shares in the company, valued at approximately $455,590.54. The disclosure for this sale can be found here. Insiders have sold a total of 260,079 shares of company stock worth $25,391,780 in the last three months. Company insiders own 18.80% of the company’s stock.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $99.31 on Tuesday. MSC Industrial Direct Co., Inc. has a 12-month low of $77.99 and a 12-month high of $105.77. The stock has a market capitalization of $5.60 billion, a P/E ratio of 16.89 and a beta of 0.96. The firm’s 50-day moving average is $98.60 and its two-hundred day moving average is $98.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.02 and a quick ratio of 0.89.

MSC Industrial Direct (NYSE:MSMGet Free Report) last released its quarterly earnings results on Tuesday, January 9th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $971.31 million. During the same period in the prior year, the business earned $1.48 earnings per share. MSC Industrial Direct’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts predict that MSC Industrial Direct Co., Inc. will post 5.91 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 23rd. Stockholders of record on Tuesday, January 9th were issued a dividend of $0.83 per share. The ex-dividend date was Monday, January 8th. This represents a $3.32 annualized dividend and a dividend yield of 3.34%. MSC Industrial Direct’s payout ratio is currently 56.46%.

Wall Street Analyst Weigh In

Separately, KeyCorp lowered their price objective 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

View Our Latest Stock Analysis on MSM

MSC Industrial Direct Company Profile

(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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