Meeder Asset Management Inc. Sells 21,308 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Meeder Asset Management Inc. cut its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 93.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,569 shares of the industrial products company’s stock after selling 21,308 shares during the period. Meeder Asset Management Inc.’s holdings in MSC Industrial Direct were worth $117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in MSC Industrial Direct by 412.0% during the 4th quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 342 shares in the last quarter. UMB Bank n.a. boosted its position in shares of MSC Industrial Direct by 54.0% during the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock valued at $36,000 after buying an additional 167 shares during the last quarter. Synergy Asset Management LLC bought a new stake in MSC Industrial Direct during the fourth quarter worth $36,000. V Square Quantitative Management LLC raised its position in MSC Industrial Direct by 77.0% in the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock valued at $40,000 after buying an additional 231 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in MSC Industrial Direct by 38.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 962 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 267 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on MSM shares. Stephens downgraded shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price for the company. in a report on Wednesday, December 4th. Wolfe Research started coverage on shares of MSC Industrial Direct in a research report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.80.

MSC Industrial Direct Trading Up 0.0 %

Shares of MSM stock opened at $77.68 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.34 billion, a P/E ratio of 18.54 and a beta of 0.90. The company has a 50 day moving average of $79.95 and a 200-day moving average of $81.48. MSC Industrial Direct Co., Inc. has a 12-month low of $72.79 and a 12-month high of $96.28.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $928.50 million during the quarter, compared to the consensus estimate of $904.90 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the business posted $1.25 earnings per share. Sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.38%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 81.15%.

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.