Martingale Asset Management L P Sells 4,144 Shares of MSC Industrial Direct Company, Inc. $MSM

Key Points

• Martingale Asset Management L P reduced its stake in MSC Industrial Direct by 53.5% in Q1, holding 3,605 shares valued at $280,000 after selling over 4,100 shares.
• Multiple brokerages have upgraded their price targets for MSC Industrial Direct, with estimates ranging from $84.00 to $95.00, indicating a generally positive outlook.
• The company recently declared a quarterly dividend of $0.85 per share, translating to an annual yield of 3.7% and a payout ratio of 96.05%.

Martingale Asset Management L P reduced its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,605 shares of the industrial products company's stock after selling 4,144 shares during the period. Martingale Asset Management L P's holdings in MSC Industrial Direct were worth $280,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MSM. Level Four Advisory Services LLC boosted its holdings in MSC Industrial Direct by 6.6% during the first quarter. Level Four Advisory Services LLC now owns 26,896 shares of the industrial products company's stock valued at $2,089,000 after acquiring an additional 1,676 shares during the period. Van Lanschot Kempen Investment Management N.V. boosted its stake in MSC Industrial Direct by 15.8% during the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 315,698 shares of the industrial products company's stock valued at $24,520,000 after purchasing an additional 43,034 shares during the period. Wellington Management Group LLP bought a new stake in MSC Industrial Direct during the 1st quarter valued at approximately $17,187,000. Versor Investments LP bought a new stake in MSC Industrial Direct during the 1st quarter valued at approximately $249,000. Finally, Freestone Capital Holdings LLC boosted its stake in MSC Industrial Direct by 51.5% during the 1st quarter. Freestone Capital Holdings LLC now owns 7,358 shares of the industrial products company's stock valued at $571,000 after purchasing an additional 2,502 shares during the period. 79.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MSM. Robert W. Baird increased their price objective 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. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and increased their price target for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a report on Tuesday, May 27th. Loop Capital increased their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Finally, Stephens increased their target price on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $90.33.

Insider Activity at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the firm's 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 owned 14,657 shares in the company, valued at $1,348,444. This trade represents a 12.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.30% of the stock is owned by company insiders.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock traded down $0.84 during trading on Friday, hitting $90.13. 468,213 shares of the company's stock traded hands, compared to its average volume of 367,700. 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 firm's fifty day moving average price is $87.65 and its 200 day moving average price is $81.80. MSC Industrial Direct Company, Inc. has a twelve month low of $68.10 and a twelve month high of $92.68. The company has a market cap of $5.02 billion, a PE ratio of 25.46 and a beta of 0.95.

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 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $971.15 million during the quarter, compared to analysts' expectations of $969.72 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The company's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. Analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is 96.05%.

MSC Industrial Direct Company 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.