M&T Bank Corp Boosts Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

M&T Bank Corp increased its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 4.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,761 shares of the industrial products company’s stock after buying an additional 176 shares during the quarter. M&T Bank Corp’s holdings in MSC Industrial Direct were worth $324,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC boosted its stake in shares of MSC Industrial Direct by 57.0% during the 3rd quarter. Quent Capital LLC now owns 372 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 135 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in MSC Industrial Direct by 53.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 141 shares during the period. Frank Rimerman Advisors LLC boosted its position in MSC Industrial Direct by 2.4% during the third quarter. Frank Rimerman Advisors LLC now owns 6,925 shares of the industrial products company’s stock worth $596,000 after purchasing an additional 161 shares in the last quarter. US Bancorp DE grew its holdings in MSC Industrial Direct by 6.5% in the third quarter. US Bancorp DE now owns 2,833 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 173 shares during the period. Finally, Arizona State Retirement System increased its position in shares of MSC Industrial Direct by 1.7% in the second quarter. Arizona State Retirement System now owns 12,609 shares of the industrial products company’s stock valued at $1,000,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction 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 owns 1,402,849 shares in the company, valued at $126,761,435.64. The trade was a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip Peller sold 900 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total value 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 disclosure for this sale can be found here. Insiders own 18.80% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $78.31 on Thursday. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 17.10 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 firm has a 50-day simple moving average of $83.51 and a 200-day simple moving average of $82.39. 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 issued its earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The company had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities analysts predict that MSC Industrial Direct Co., Inc. will post 3.63 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.34%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 74.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stephens lowered 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. Robert W. Baird increased their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.20.

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.