Quantbot Technologies LP Sells 37,134 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Quantbot Technologies LP lowered its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 97.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,066 shares of the industrial products company’s stock after selling 37,134 shares during the quarter. Quantbot Technologies LP’s holdings in MSC Industrial Direct were worth $92,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Qsemble Capital Management LP acquired a new position in MSC Industrial Direct during the third quarter worth $1,431,000. Cerity Partners LLC lifted its stake in shares of MSC Industrial Direct by 24.3% during the third quarter. Cerity Partners LLC now owns 5,595 shares of the industrial products company’s stock valued at $482,000 after acquiring an additional 1,092 shares during the period. Citigroup Inc. boosted its stake in shares of MSC Industrial Direct by 7.9% in the 3rd quarter. Citigroup Inc. now owns 52,148 shares of the industrial products company’s stock valued at $4,488,000 after purchasing an additional 3,840 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 acquiring an additional 113,878 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of MSC Industrial Direct by 11.1% during the third quarter. Pacer Advisors Inc. now owns 918,235 shares of the industrial products company’s stock worth $79,023,000 after purchasing an additional 91,369 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MSM shares. Stephens cut shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective 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 MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.20.

Insider Activity

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Philip Peller sold 900 shares of the business’s stock in a transaction dated 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 in the company, valued at $360,199.08. This trade represents a 18.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.80% of the company’s stock.

MSC Industrial Direct Stock Down 0.3 %

Shares of MSM opened at $83.12 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 18.15 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week high of $104.76. The stock has a fifty day moving average of $83.62 and a 200-day moving average of $82.71.

MSC Industrial Direct (NYSE:MSM) last announced its 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 the consensus estimate of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 earnings per share. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Wednesday, November 13th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio is 74.24%.

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.