Groesbeck Investment Management Corp NJ Sells 500 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Groesbeck Investment Management Corp NJ decreased its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 6.6% during the 4th quarter, HoldingsChannel reports. The fund owned 7,078 shares of the industrial products company’s stock after selling 500 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in MSC Industrial Direct were worth $717,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of MSC Industrial Direct by 5.4% during the 1st quarter. BlackRock Inc. now owns 6,359,260 shares of the industrial products company’s stock valued at $534,178,000 after acquiring an additional 327,944 shares in the last quarter. Vanguard Group Inc. lifted its holdings in MSC Industrial Direct by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,817,016 shares of the industrial products company’s stock worth $472,790,000 after buying an additional 197,193 shares during the period. State Street Corp lifted its holdings in MSC Industrial Direct by 1.8% during the 1st quarter. State Street Corp now owns 1,367,455 shares of the industrial products company’s stock worth $114,866,000 after buying an additional 24,040 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in MSC Industrial Direct by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,080,301 shares of the industrial products company’s stock worth $106,032,000 after buying an additional 52,633 shares during the period. Finally, First Trust Advisors LP lifted its holdings in MSC Industrial Direct by 0.5% during the 1st quarter. First Trust Advisors LP now owns 1,023,981 shares of the industrial products company’s stock worth $87,253,000 after buying an additional 5,411 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity at MSC Industrial Direct

In related news, Director Mitchell Jacobson sold 51,040 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $97.31, for a total value of $4,966,702.40. Following the completion of the sale, the director now directly owns 1,907,271 shares of the company’s stock, valued at approximately $185,596,541.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 232,003 shares of company stock valued at $22,679,413 in the last three months. Corporate insiders own 18.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. KeyCorp cut their target price on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 10th. Stephens reaffirmed an “overweight” rating and set a $110.00 target price on shares of MSC Industrial Direct in a report on Monday, April 1st. Finally, StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

MSC Industrial Direct Trading Up 0.8 %

Shares of NYSE:MSM traded up $0.70 during midday trading on Thursday, reaching $91.80. The company’s stock had a trading volume of 64,540 shares, compared to its average volume of 484,153. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 16.36 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. The firm has a 50 day moving average price of $97.48 and a two-hundred day moving average price of $98.11. MSC Industrial Direct Co., Inc. has a fifty-two week low of $88.14 and a fifty-two week high of $105.77.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. The company had revenue of $935.30 million for the quarter, compared to the consensus estimate of $946.55 million. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 EPS. As a group, analysts forecast that MSC Industrial Direct Co., Inc. will post 5.79 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Monday, April 8th. MSC Industrial Direct’s payout ratio is 59.61%.

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.