Amalgamated Bank Boosts Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Amalgamated Bank increased its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSMFree Report) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,643 shares of the industrial products company’s stock after purchasing an additional 2,139 shares during the period. Amalgamated Bank’s holdings in MSC Industrial Direct were worth $3,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MSM. Institutional & Family Asset Management LLC purchased a new stake in shares of MSC Industrial Direct in the second quarter valued at $32,000. Alaska Permanent Fund Corp purchased a new stake in MSC Industrial Direct during the second quarter valued at about $41,000. Quent Capital LLC grew its position in MSC Industrial Direct by 168.8% during the third quarter. Quent Capital LLC now owns 516 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 324 shares during the period. Altshuler Shaham Ltd grew its position in MSC Industrial Direct by 154.8% during the fourth quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 486 shares during the period. Finally, Huntington National Bank grew its position in MSC Industrial Direct by 57.2% during the second quarter. Huntington National Bank now owns 1,132 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 412 shares during the period. Hedge funds and other institutional investors own 89.51% of the company’s stock.

MSC Industrial Direct Price Performance

MSM stock opened at $98.53 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.89 and a current ratio of 2.02. MSC Industrial Direct Co., Inc. has a 1 year low of $77.99 and a 1 year high of $105.77. The firm has a market cap of $5.56 billion, a P/E ratio of 16.76 and a beta of 0.96. The stock has a 50-day simple moving average of $98.57 and a 200-day simple moving average of $98.68.

MSC Industrial Direct (NYSE:MSMGet Free Report) last posted its earnings results on Tuesday, January 9th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.05). MSC Industrial Direct had a net margin of 8.27% and a return on equity of 23.46%. The company had revenue of $954.00 million during the quarter, compared to analyst estimates of $971.31 million. During the same quarter last year, the business posted $1.48 EPS. MSC Industrial Direct’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that MSC Industrial Direct Co., Inc. will post 5.91 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 23rd. Investors of record on Tuesday, January 9th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Monday, January 8th. MSC Industrial Direct’s dividend payout ratio is currently 56.46%.

Insider Activity at MSC Industrial Direct

In related news, CFO Kristen Actis-Grande sold 2,886 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $98.74, for a total value of $284,963.64. Following the completion of the transaction, the chief financial officer now owns 7,312 shares of the company’s stock, valued at $721,986.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other MSC Industrial Direct news, Director Mitchell Jacobson sold 24,501 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the transaction, the director now owns 1,683,810 shares of the company’s stock, valued at approximately $167,219,171.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kristen Actis-Grande sold 2,886 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $98.74, for a total value of $284,963.64. Following the transaction, the chief financial officer now directly owns 7,312 shares in the company, valued at approximately $721,986.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 260,079 shares of company stock valued at $25,391,780. Insiders own 18.80% of the company’s stock.

Analyst Ratings Changes

Separately, KeyCorp lowered their price target on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

View Our Latest 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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