Prentiss Smith & Co. Inc. Sells 811 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Prentiss Smith & Co. Inc. trimmed its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,292 shares of the industrial products company’s stock after selling 811 shares during the period. MSC Industrial Direct makes up approximately 2.5% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its 17th biggest position. Prentiss Smith & Co. Inc. owned approximately 0.06% of MSC Industrial Direct worth $3,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Duality Advisers LP bought a new stake in MSC Industrial Direct during the 4th quarter worth approximately $1,668,000. Louisiana State Employees Retirement System bought a new stake in MSC Industrial Direct during the 4th quarter worth approximately $1,316,000. Invesco Ltd. increased its holdings in MSC Industrial Direct by 39.9% during the 3rd quarter. Invesco Ltd. now owns 462,756 shares of the industrial products company’s stock worth $45,420,000 after purchasing an additional 131,943 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in MSC Industrial Direct by 15.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 139,088 shares of the industrial products company’s stock worth $13,651,000 after purchasing an additional 18,559 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in MSC Industrial Direct by 11.9% during the 3rd quarter. Northern Trust Corp now owns 488,187 shares of the industrial products company’s stock worth $47,916,000 after purchasing an additional 51,866 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock traded down $0.23 during trading on Thursday, hitting $93.19. The stock had a trading volume of 244,211 shares, compared to its average volume of 480,331. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 16.73 and a beta of 0.95. MSC Industrial Direct Co., Inc. has a 12 month low of $88.14 and a 12 month high of $105.77. The business’s 50-day moving average is $96.91 and its 200 day moving average is $97.91. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Thursday, March 28th. The industrial products company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The business had revenue of $935.30 million for the quarter, compared to analysts’ expectations of $946.55 million. During the same quarter in the prior year, the firm earned $1.45 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 5.69 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were given a dividend of $0.83 per share. The ex-dividend date was Monday, April 8th. This represents a $3.32 annualized dividend and a yield of 3.56%. MSC Industrial Direct’s payout ratio is 59.61%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stephens restated an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a research note on Monday, April 1st. KeyCorp cut their target price on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 10th. Finally, StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 137,716 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $97.66, for a total transaction of $13,449,344.56. Following the completion of the sale, the director now directly owns 1,708,311 shares in the company, valued at $166,833,652.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 180,963 shares of company stock worth $17,712,711 over the last three months. Company insiders own 18.80% of the company’s stock.

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.