MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSMFree Report) by 2.8% in the third quarter, HoldingsChannel.com reports. The firm owned 10,300 shares of the industrial products company’s stock after selling 300 shares during the quarter. Gabelli Funds LLC’s holdings in MSC Industrial Direct were worth $1,011,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. acquired a new position in MSC Industrial Direct in the third quarter valued at approximately $607,000. Swiss National Bank boosted its holdings in shares of MSC Industrial Direct by 1.4% in the third quarter. Swiss National Bank now owns 104,200 shares of the industrial products company’s stock valued at $10,227,000 after acquiring an additional 1,400 shares during the period. Amalgamated Bank boosted its holdings in shares of MSC Industrial Direct by 6.8% in the third quarter. Amalgamated Bank now owns 33,643 shares of the industrial products company’s stock valued at $3,302,000 after acquiring an additional 2,139 shares during the period. Zions Bancorporation N.A. boosted its holdings in shares of MSC Industrial Direct by 6.8% in the third quarter. Zions Bancorporation N.A. now owns 10,165 shares of the industrial products company’s stock valued at $998,000 after acquiring an additional 646 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of MSC Industrial Direct by 1.7% in the third quarter. Arizona State Retirement System now owns 13,495 shares of the industrial products company’s stock valued at $1,325,000 after acquiring an additional 221 shares during the period. 89.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

View Our Latest Stock Analysis on MSM

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $98.55 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.02 and a quick ratio of 0.89. The stock has a fifty day moving average price of $98.57 and a 200 day moving average price of $98.67. MSC Industrial Direct Co., Inc. has a 1-year low of $77.99 and a 1-year high of $105.77. The company has a market cap of $5.56 billion, a PE ratio of 16.76 and a beta of 0.96.

MSC Industrial Direct (NYSE:MSMGet Free Report) last issued its quarterly earnings results on Tuesday, January 9th. The industrial products company reported $1.25 earnings per share 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 company 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% compared to the same quarter last year. Sell-side analysts forecast that MSC Industrial Direct Co., Inc. will post 5.91 EPS for the current year.

MSC Industrial Direct Announces Dividend

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

Insider Buying and Selling

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

About MSC Industrial Direct

(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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