HighTower Advisors LLC Has $4 Million Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

HighTower Advisors LLC boosted its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 2.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 46,507 shares of the industrial products company’s stock after buying an additional 1,254 shares during the period. HighTower Advisors LLC’s holdings in MSC Industrial Direct were worth $4,003,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MSM. American Century Companies Inc. grew its stake in MSC Industrial Direct by 85.1% in the 2nd quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock valued at $216,772,000 after buying an additional 1,256,706 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of MSC Industrial Direct by 804.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 173,653 shares of the industrial products company’s stock worth $13,772,000 after purchasing an additional 154,454 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of MSC Industrial Direct by 1,715.2% during the 2nd quarter. Renaissance Technologies LLC now owns 143,400 shares of the industrial products company’s stock worth $11,373,000 after purchasing an additional 135,500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of MSC Industrial Direct by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company’s stock worth $134,859,000 after purchasing an additional 113,878 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of MSC Industrial Direct by 458.4% during the 2nd quarter. Millennium Management LLC now owns 119,700 shares of the industrial products company’s stock worth $9,493,000 after purchasing an additional 98,265 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insiders Place Their Bets

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the transaction, the chief executive officer now owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip Peller sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total transaction of $80,163.00. Following the completion of the transaction, the director now directly owns 4,044 shares of the company’s stock, valued at approximately $360,199.08. This represents a 18.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.80% of the company’s stock.

MSC Industrial Direct Trading Down 0.5 %

NYSE:MSM opened at $83.86 on Thursday. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 18.31 and a beta of 0.89. The firm has a fifty day simple moving average of $83.56 and a two-hundred day simple moving average of $82.54. MSC Industrial Direct Co., Inc. has a 12 month low of $75.05 and a 12 month high of $104.76.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The business had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. Analysts expect that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.85 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $3.40 annualized dividend and a yield of 4.05%. MSC Industrial Direct’s payout ratio is currently 74.24%.

Wall Street Analysts Forecast Growth

MSM has been the topic of a number of analyst reports. Stephens lowered shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price on the stock. in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Robert W. Baird increased their price target on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, MSC Industrial Direct currently has a consensus rating of “Hold” and an average target price of $85.20.

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.