Abich Financial Wealth Management LLC Sells 275 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Abich Financial Wealth Management LLC decreased its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 38.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 436 shares of the industrial products company’s stock after selling 275 shares during the period. Abich Financial Wealth Management LLC’s holdings in MSC Industrial Direct were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Entropy Technologies LP purchased a new stake in MSC Industrial Direct in the 1st quarter worth about $775,000. Mitsubishi UFJ Trust & Banking Corp grew its position in MSC Industrial Direct by 183.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,323 shares of the industrial products company’s stock valued at $2,142,000 after acquiring an additional 14,451 shares during the last quarter. Swedbank AB purchased a new stake in MSC Industrial Direct in the first quarter worth $16,571,000. Sei Investments Co. lifted its position in shares of MSC Industrial Direct by 7.4% during the first quarter. Sei Investments Co. now owns 130,123 shares of the industrial products company’s stock worth $12,627,000 after purchasing an additional 8,971 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in MSC Industrial Direct in the 1st quarter worth about $1,253,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM traded down $0.02 during midday trading on Tuesday, reaching $81.07. The company had a trading volume of 59,225 shares, compared to its average volume of 568,059. The stock has a market cap of $4.55 billion, a P/E ratio of 17.71 and a beta of 0.86. The company has a current ratio of 1.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The business’s 50-day simple moving average is $82.00 and its 200 day simple moving average is $84.15. MSC Industrial Direct Co., Inc. has a 1 year low of $75.05 and a 1 year high of $104.76.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The firm had revenue of $952.30 million during the quarter, compared to analyst estimates of $959.74 million. During the same period in the prior year, the company posted $1.64 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts forecast that MSC Industrial Direct Co., Inc. will post 4.79 earnings per share for the current fiscal 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 given a $0.85 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.19%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio is 72.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MSM shares. JPMorgan Chase & Co. decreased their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a research note on Friday. Robert W. Baird lifted their price objective on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Loop Capital reduced their price objective on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, MSC Industrial Direct has a consensus rating of “Hold” and an average price target of $90.20.

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.