Huntington National Bank Sells 329 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Huntington National Bank trimmed its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSMFree Report) by 29.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 803 shares of the industrial products company’s stock after selling 329 shares during the quarter. Huntington National Bank’s holdings in MSC Industrial Direct were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MSM. Institutional & Family Asset Management LLC acquired a new stake in MSC Industrial Direct during the second quarter valued at approximately $32,000. Alaska Permanent Fund Corp acquired a new stake in MSC Industrial Direct during the second quarter valued at approximately $41,000. Quent Capital LLC boosted its holdings 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 purchasing an additional 324 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of MSC Industrial Direct by 154.8% in the 4th quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 486 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of MSC Industrial Direct by 9.2% in the 3rd quarter. Global Retirement Partners LLC now owns 1,160 shares of the industrial products company’s stock worth $115,000 after acquiring an additional 98 shares in the last quarter. 89.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 51,040 shares of MSC Industrial Direct 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 sale, the director now owns 1,907,271 shares of the company’s stock, valued at approximately $185,596,541.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mitchell Jacobson sold 51,040 shares of the firm’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 transaction, the director now owns 1,907,271 shares in the company, valued at approximately $185,596,541.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Erik Gershwind sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were 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 have sold 260,079 shares of company stock valued at $25,391,780 in the last 90 days. 18.80% of the stock is currently owned by company insiders.

MSC Industrial Direct Stock Performance

Shares of MSC Industrial Direct stock opened at $98.55 on Monday. The company has a market capitalization of $5.56 billion, a PE ratio of 16.76 and a beta of 0.96. MSC Industrial Direct Co., Inc. has a 12 month low of $77.99 and a 12 month high of $105.77. The company has a current ratio of 2.02, a quick ratio of 0.89 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $98.57 and its 200 day simple moving average is $98.66.

MSC Industrial Direct (NYSE:MSMGet Free Report) last issued its quarterly earnings data on Tuesday, January 9th. The industrial products company reported $1.25 EPS 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 business had revenue of $954.00 million for the quarter, compared to analyst estimates of $971.31 million. During the same period in the previous year, the business posted $1.48 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts predict that MSC Industrial Direct Co., Inc. will post 5.91 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Tuesday, January 9th were paid a $0.83 dividend. 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 56.46%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp reduced 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Read Our Latest Stock Analysis on MSC Industrial Direct

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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