Mutual of America Capital Management LLC Sells 1,846 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Mutual of America Capital Management LLC lowered its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,266 shares of the industrial products company’s stock after selling 1,846 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MSC Industrial Direct were worth $2,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of MSC Industrial Direct by 1,142.3% in the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 297 shares during the period. Ridgewood Investments LLC purchased a new position in shares of MSC Industrial Direct during the 2nd quarter valued at $26,000. V Square Quantitative Management LLC bought a new position in MSC Industrial Direct in the 3rd quarter worth $26,000. UMB Bank n.a. increased its stake in MSC Industrial Direct by 442.1% in the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock worth $27,000 after buying an additional 252 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in MSC Industrial Direct by 35,300.0% during the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 353 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Price Performance

MSM stock opened at $85.41 on Monday. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $104.76. The firm has a market capitalization of $4.77 billion, a P/E ratio of 18.65 and a beta of 0.87. The company has a fifty day simple moving average of $83.50 and a two-hundred day simple moving average of $83.11. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20.

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

MSC Industrial Direct Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.85 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.98%. MSC Industrial Direct’s payout ratio is 74.24%.

Insider Activity

In other news, Director Philip Peller sold 900 shares of the company’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 transaction, the director now owns 4,044 shares of the company’s stock, valued at approximately $360,199.08. This represents a 18.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $90.36, for a total value of $4,518,000.00. Following the sale, the chief executive officer now directly owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Robert W. Baird lifted their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, MSC Industrial Direct has a consensus rating of “Hold” and a consensus target price of $90.20.

MSC Industrial Direct 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.