Truvestments Capital LLC Sells 323 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Truvestments Capital LLC lowered its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,938 shares of the industrial products company’s stock after selling 323 shares during the quarter. Truvestments Capital LLC’s holdings in MSC Industrial Direct were worth $253,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Swedbank AB purchased a new position in MSC Industrial Direct during the first quarter worth about $16,571,000. DekaBank Deutsche Girozentrale grew its holdings in shares of MSC Industrial Direct by 68.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 157,252 shares of the industrial products company’s stock valued at $15,458,000 after acquiring an additional 63,955 shares in the last quarter. American Century Companies Inc. increased its position in shares of MSC Industrial Direct by 85.1% during the second quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock valued at $216,772,000 after acquiring an additional 1,256,706 shares during the last quarter. SG Americas Securities LLC purchased a new position in MSC Industrial Direct in the second quarter worth $3,101,000. Finally, Farther Finance Advisors LLC boosted its position in MSC Industrial Direct by 892.9% in the third quarter. Farther Finance Advisors LLC now owns 695 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 625 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $90.36, for a total value of $4,518,000.00. Following the sale, the chief executive officer now owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Philip Peller sold 900 shares of MSC Industrial Direct stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the sale, the director now directly owns 4,044 shares of the company’s stock, valued at $360,199.08. This represents a 18.20 % decrease in their position. The disclosure for this sale can be found here. 18.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MSM. Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.20.

MSC Industrial Direct Stock Up 2.0 %

MSM opened at $87.15 on Tuesday. The company has a 50 day moving average of $83.62 and a 200 day moving average of $83.08. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. MSC Industrial Direct Co., Inc. has a 12 month low of $75.05 and a 12 month high of $104.76. The company has a market cap of $4.87 billion, a PE ratio of 19.03 and a beta of 0.87.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The company had revenue of $952.30 million during the quarter, compared to analysts’ expectations of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. MSC Industrial Direct’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 earnings per share. On average, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current year.

MSC Industrial Direct Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.85 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Wednesday, November 13th. MSC Industrial Direct’s dividend payout ratio (DPR) is 74.24%.

MSC Industrial Direct Profile

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.