Legacy Financial Advisors Inc. Sells 4,172 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Legacy Financial Advisors Inc. decreased its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 40.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,195 shares of the industrial products company's stock after selling 4,172 shares during the quarter. Legacy Financial Advisors Inc.'s holdings in MSC Industrial Direct were worth $463,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MSM. Barclays PLC lifted its holdings in shares of MSC Industrial Direct by 36.9% in the 3rd quarter. Barclays PLC now owns 25,490 shares of the industrial products company's stock worth $2,195,000 after acquiring an additional 6,864 shares during the last quarter. Norges Bank purchased a new stake in MSC Industrial Direct during the fourth quarter valued at $34,735,000. State of New Jersey Common Pension Fund D grew its position in shares of MSC Industrial Direct by 8.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 26,035 shares of the industrial products company's stock valued at $1,945,000 after acquiring an additional 2,136 shares during the period. Rhumbline Advisers lifted its stake in shares of MSC Industrial Direct by 0.9% during the 4th quarter. Rhumbline Advisers now owns 155,601 shares of the industrial products company's stock valued at $11,622,000 after buying an additional 1,418 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of MSC Industrial Direct in the fourth quarter worth about $2,654,000. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Stock Performance

MSM stock traded down $1.08 on Wednesday, reaching $75.96. 145,521 shares of the company were exchanged, compared to its average volume of 629,838. MSC Industrial Direct Co., Inc. has a 12 month low of $68.10 and a 12 month high of $94.31. The firm has a market capitalization of $4.23 billion, a PE ratio of 18.13 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91. The stock's fifty day moving average price is $78.27 and its 200 day moving average price is $80.70.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm had revenue of $891.70 million for the quarter, compared to the consensus estimate of $908.30 million. During the same period last year, the company posted $1.18 EPS. The business's quarterly revenue was down 4.7% on a year-over-year basis. On average, research analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.85 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 dividend on an annualized basis and a yield of 4.48%. MSC Industrial Direct's dividend payout ratio is currently 89.71%.

Insider Buying and Selling

In other news, Director Mitchell Jacobson purchased 27,642 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were acquired at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the acquisition, the director now owns 1,951,725 shares in the company, valued at $136,171,853.25. This trade represents a 1.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 18.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MSM. Loop Capital decreased their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a report on Friday, April 4th. Robert W. Baird dropped their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Finally, Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $82.20.

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.