Truvestments Capital LLC Sells 323 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Truvestments Capital LLC reduced its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 9.9% in the third quarter, HoldingsChannel.com reports. The fund owned 2,938 shares of the industrial products company’s stock after selling 323 shares during the quarter. Truvestments Capital LLC’s holdings in MSC Industrial Direct were worth $253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MSM. Blue Trust Inc. lifted its stake in MSC Industrial Direct by 1,142.3% during 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 last quarter. Ridgewood Investments LLC purchased a new position in shares of MSC Industrial Direct during the 2nd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in MSC Industrial Direct in the 3rd quarter worth approximately $26,000. UMB Bank n.a. boosted its stake in MSC Industrial Direct by 442.1% in the third 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 grew its position 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 last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Stock Up 2.0 %

Shares of NYSE MSM opened at $87.15 on Tuesday. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 19.03 and a beta of 0.87. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average is $83.62 and its 200 day moving average is $83.08. MSC Industrial Direct Co., Inc. has a 52 week low of $75.05 and a 52 week 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 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). The firm had revenue of $952.30 million for 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 period last year, the company posted $1.64 earnings per share. On average, equities research analysts expect that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.40 annualized dividend and a yield of 3.90%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio (DPR) is 74.24%.

Insider Transactions at MSC Industrial Direct

In related news, Director Philip Peller sold 900 shares of the firm’s 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 completion of the sale, the director now owns 4,044 shares of the company’s stock, valued at $360,199.08. This trade represents a 18.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Erik Gershwind sold 50,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the transaction, the chief executive officer now directly owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. The trade was a 3.44 % 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.

Analysts Set New Price Targets

MSM has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Robert W. Baird upped their price target 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.