Ceredex Value Advisors LLC Sells 38,150 Shares of MSC Industrial Direct Company, Inc. $MSM

Ceredex Value Advisors LLC lessened its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 22.6% in the third quarter, HoldingsChannel reports. The fund owned 130,750 shares of the industrial products company’s stock after selling 38,150 shares during the period. Ceredex Value Advisors LLC’s holdings in MSC Industrial Direct were worth $12,047,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allianz Asset Management GmbH boosted its stake in shares of MSC Industrial Direct by 124.2% in the third quarter. Allianz Asset Management GmbH now owns 195,176 shares of the industrial products company’s stock valued at $17,984,000 after buying an additional 108,116 shares during the period. Squarepoint Ops LLC bought a new position in MSC Industrial Direct during the 2nd quarter worth $1,352,000. Arjuna Capital acquired a new position in MSC Industrial Direct in the 3rd quarter valued at $4,274,000. Norges Bank acquired a new position in MSC Industrial Direct in the 2nd quarter valued at $39,950,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of MSC Industrial Direct during the 3rd quarter valued at $1,190,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $90.00 on Wednesday. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $96.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.73 and a quick ratio of 0.82. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 24.59 and a beta of 0.81. The firm has a 50 day simple moving average of $89.21 and a 200 day simple moving average of $88.47.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $965.68 million for the quarter, compared to analysts’ expectations of $962.52 million. MSC Industrial Direct had a net margin of 5.37% and a return on equity of 15.73%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were given a dividend of $0.87 per share. The ex-dividend date was Wednesday, January 14th. This represents a $3.48 dividend on an annualized basis and a yield of 3.9%. MSC Industrial Direct’s payout ratio is currently 95.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MSM shares. Jefferies Financial Group restated a “hold” rating and issued a $85.00 price target on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Wall Street Zen cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Robert W. Baird set a $94.00 target price on shares of MSC Industrial Direct in a report on Thursday, January 8th. Zacks Research cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Finally, iA Financial set a $95.00 price target on shares of MSC Industrial Direct in a report on Friday, February 6th. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.50.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.