Trade Report: Today, Investors Sell Shares of MSC Industrial Direct Co. (MSM) on Strength on Insider Selling

Today, Investors Sell Shares of MSC Industrial Direct Co. (MSM) on Strength on Insider Selling

Investors sold shares of MSC Industrial Direct Co. (NYSE:MSM) on strength during trading hours on Wednesday following insider selling activity. $18.39 million flowed into the stock on the tick-up and $50.29 million flowed out of the stock on the tick-down, for a money net flow of $31.90 million out of the stock. Of all companies tracked, MSC Industrial Direct had the 0th highest net out-flow for the day. MSC Industrial Direct traded up $1.55 for the day and closed at $88.54Specifically, SVP Christopher Davanzo sold 3,881 shares of MSC Industrial Direct stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $87.00, for a total value of $337,647.00. Following the transaction, the senior vice president now owns 10,386 shares in the company, valued at approximately $903,582. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Douglas E. Jones sold 4,517 shares of MSC Industrial Direct stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $73.01, for a total transaction of $329,786.17. Following the completion of the transaction, the executive vice president now owns 12,806 shares in the company, valued at approximately $934,966.06. The disclosure for this sale can be found here. Corporate insiders own 31.75% of the company’s stock.

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Credit Suisse Group AG assumed coverage on shares of MSC Industrial Direct in a report on Friday, August 19th. They issued an “underperform” rating and a $65.00 price target on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of MSC Industrial Direct in a report on Sunday, September 4th. Stephens upgraded shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $102.00 price target on the stock in a report on Monday. Finally, Macquarie assumed coverage on shares of MSC Industrial Direct in a report on Thursday, August 25th. They issued a “neutral” rating and a $80.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $79.11.

The stock has a 50 day moving average of $76.32 and a 200-day moving average of $73.78. The stock has a market cap of $5.01 billion, a PE ratio of 23.48 and a beta of 0.45.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Tuesday, November 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.04. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 17.62%. The business had revenue of $745.10 million for the quarter, compared to analyst estimates of $736.53 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, analysts expect that MSC Industrial Direct Co. will post $3.87 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, November 11th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.43. MSC Industrial Direct’s dividend payout ratio is currently 47.87%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hermes Investment Management Ltd. raised its position in MSC Industrial Direct by 8.7% in the second quarter. Hermes Investment Management Ltd. now owns 304,626 shares of the company’s stock valued at $21,494,000 after buying an additional 24,331 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in MSC Industrial Direct by 9.0% in the third quarter. Virginia Retirement Systems ET AL now owns 15,800 shares of the company’s stock valued at $1,160,000 after buying an additional 1,300 shares in the last quarter. Lowe Brockenbrough & Co. Inc. raised its position in MSC Industrial Direct by 0.8% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 17,843 shares of the company’s stock valued at $1,362,000 after buying an additional 145 shares in the last quarter. Raymond James Trust N.A. raised its position in MSC Industrial Direct by 2.0% in the second quarter. Raymond James Trust N.A. now owns 3,931 shares of the company’s stock valued at $277,000 after buying an additional 76 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in MSC Industrial Direct by 120.5% in the second quarter. Nationwide Fund Advisors now owns 175,555 shares of the company’s stock valued at $12,387,000 after buying an additional 95,949 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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