Gotham Asset Management LLC Sells 21,996 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Gotham Asset Management LLC reduced its stake in MSC Industrial Direct by 8.7%, now holding approximately 0.41% of the company valued at $17.84 million.
• Institutional investors control 79.26% of MSC Industrial Direct's stock, with significant activity in the first quarter, including new positions and substantial increases in existing stakes.
• MSC Industrial Direct reported a quarterly EPS of $1.08, exceeding expectations and projecting a full-year EPS of $3.57, despite a slight decline in revenue compared to last year.

Gotham Asset Management LLC lowered its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,714 shares of the industrial products company's stock after selling 21,996 shares during the quarter. Gotham Asset Management LLC owned 0.41% of MSC Industrial Direct worth $17,842,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Beverly Hills Private Wealth LLC raised its position in shares of MSC Industrial Direct by 4.5% during the first quarter. Beverly Hills Private Wealth LLC now owns 3,755 shares of the industrial products company's stock worth $292,000 after purchasing an additional 163 shares during the period. Parallel Advisors LLC raised its position in shares of MSC Industrial Direct by 6.1% during the first quarter. Parallel Advisors LLC now owns 3,792 shares of the industrial products company's stock worth $295,000 after purchasing an additional 217 shares during the period. GAMMA Investing LLC raised its position in shares of MSC Industrial Direct by 47.1% during the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock worth $53,000 after purchasing an additional 218 shares during the period. UMB Bank n.a. raised its position in MSC Industrial Direct by 51.1% in the 1st quarter. UMB Bank n.a. now owns 719 shares of the industrial products company's stock valued at $56,000 after buying an additional 243 shares during the last quarter. Finally, Investment Management Corp VA ADV raised its position in MSC Industrial Direct by 207.8% in the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after buying an additional 268 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Stock Up 0.6%

MSM stock traded up $0.56 during mid-day trading on Thursday, reaching $92.16. The company had a trading volume of 81,285 shares, compared to its average volume of 586,087. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $88.64 and a two-hundred day simple moving average of $82.32. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 26.00 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $94.31.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $971.15 million for the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%.The business's revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 earnings per share. As a group, equities analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's payout ratio is currently 96.05%.

Insider Activity at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $195,960.00. Following the completion of the transaction, the senior vice president directly owned 14,657 shares in the company, valued at approximately $1,348,444. The trade was a 12.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 18.30% of the company's stock.

Analyst Upgrades and Downgrades

MSM has been the topic of a number of recent research reports. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research report on Tuesday, May 27th. Stephens lifted their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. Zacks Research lowered MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Robert W. Baird lifted their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.33.

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.