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 firm 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 reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MSM. Advisors Asset Management Inc. boosted its position in shares of MSC Industrial Direct by 8,289.7% during the third quarter. Advisors Asset Management Inc. now owns 17,031 shares of the industrial products company’s stock worth $1,466,000 after buying an additional 16,828 shares during the period. Barclays PLC lifted its stake in MSC Industrial Direct by 36.9% during the 3rd quarter. Barclays PLC now owns 25,490 shares of the industrial products company’s stock worth $2,195,000 after acquiring an additional 6,864 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in MSC Industrial Direct by 36.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,114 shares of the industrial products company’s stock valued at $1,989,000 after acquiring an additional 6,172 shares during the period. XTX Topco Ltd grew its position in MSC Industrial Direct by 398.1% in the 3rd quarter. XTX Topco Ltd now owns 15,860 shares of the industrial products company’s stock valued at $1,365,000 after acquiring an additional 12,676 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in MSC Industrial Direct by 892.9% during 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 period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MSM. JPMorgan Chase & Co. lowered their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Stephens downgraded shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price target for the company. in a research note on Wednesday, December 4th. Wolfe Research began coverage on MSC Industrial Direct in a report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Robert W. Baird boosted their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus target price of $83.80.

Insider Transactions at MSC Industrial Direct

In other news, CEO Erik Gershwind sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,402,849 shares of the company’s stock, valued at approximately $126,761,435.64. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip Peller sold 900 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the completion of the sale, the director now directly owns 4,044 shares of the company’s stock, valued at approximately $360,199.08. This trade represents a 18.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $82.99 on Friday. The stock has a market cap of $4.64 billion, a P/E ratio of 19.81 and a beta of 0.91. The company has a fifty day simple moving average of $81.19 and a 200-day simple moving average of $82.10. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a 12-month low of $72.79 and a 12-month high of $104.76.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The company had revenue of $928.50 million during the quarter, compared to the consensus estimate of $904.90 million. During the same period in the previous year, the business earned $1.25 EPS. MSC Industrial Direct’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

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

MSC Industrial Direct Company 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.