MSC Industrial Direct Sees Unusually Large Options Volume (NYSE:MSM)

MSC Industrial Direct Co., Inc. (NYSE:MSM) was the recipient of some unusual options trading on Wednesday. Investors purchased 11,316 call options on the company. This is an increase of 2,415% compared to the typical volume of 450 call options.

Insider Activity at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total transaction of $413,271.00. Following the sale, the senior vice president now directly owns 12,897 shares in the company, valued at $1,091,086.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MSC Industrial Direct

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new stake in shares of MSC Industrial Direct in the first quarter valued at approximately $775,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of MSC Industrial Direct by 183.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,323 shares of the industrial products company’s stock worth $2,142,000 after purchasing an additional 14,451 shares during the period. Swedbank AB purchased a new position in shares of MSC Industrial Direct in the 1st quarter valued at about $16,571,000. Sei Investments Co. lifted its stake in shares of MSC Industrial Direct by 7.4% in the first quarter. Sei Investments Co. now owns 130,123 shares of the industrial products company’s stock valued at $12,627,000 after purchasing an additional 8,971 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of MSC Industrial Direct in the first quarter valued at about $1,253,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. KeyCorp cut MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a research note on Friday, June 14th. Loop Capital lowered their price objective on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Robert W. Baird reduced their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. lowered their price target on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock opened at $81.33 on Friday. MSC Industrial Direct has a one year low of $75.05 and a one year high of $105.77. The company has a market cap of $4.56 billion, a P/E ratio of 15.79 and a beta of 0.86. 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 fifty day moving average of $81.72 and a two-hundred day moving average of $85.48.

MSC Industrial Direct Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.18%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 64.47%.

About MSC Industrial Direct

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.