MSC Industrial Direct Co., Inc. (NYSE:MSM) Position Trimmed by New South Capital Management Inc.

New South Capital Management Inc. cut its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 1.2% during the third quarter, HoldingsChannel.com reports. The firm owned 715,081 shares of the industrial products company’s stock after selling 8,641 shares during the period. MSC Industrial Direct makes up about 2.5% of New South Capital Management Inc.’s portfolio, making the stock its 10th largest holding. New South Capital Management Inc.’s holdings in MSC Industrial Direct were worth $61,540,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MSM. American Century Companies Inc. increased its holdings in shares of MSC Industrial Direct by 85.1% during the 2nd quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock worth $216,772,000 after purchasing an additional 1,256,706 shares during the period. Dimensional Fund Advisors LP raised its position in MSC Industrial Direct by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the industrial products company’s stock worth $74,467,000 after purchasing an additional 61,022 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in MSC Industrial Direct by 12.5% during the second quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company’s stock worth $60,718,000 after purchasing an additional 84,967 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in MSC Industrial Direct by 1.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 606,702 shares of the industrial products company’s stock valued at $48,118,000 after buying an additional 11,257 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in MSC Industrial Direct by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 288,100 shares of the industrial products company’s stock worth $22,849,000 after acquiring an additional 44,100 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Down 0.3 %

NYSE MSM traded down $0.28 during trading hours on Tuesday, hitting $89.90. 2,587 shares of the company traded hands, compared to its average volume of 577,942. The business’s 50-day moving average is $82.46 and its 200-day moving average is $83.58. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $104.76. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 19.70 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The business had revenue of $952.30 million for the quarter, compared to the consensus estimate of $959.74 million. During the same period in the prior year, the business posted $1.64 earnings per share. MSC Industrial Direct’s revenue was down 8.0% compared to the same quarter last year. Sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.65 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.78%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 13th. MSC Industrial Direct’s dividend payout ratio is presently 72.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and an average 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.