Hsbc Holdings PLC Sells 7,184 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)


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Hsbc Holdings PLC trimmed its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 61.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,457 shares of the industrial products company’s stock after selling 7,184 shares during the period. Hsbc Holdings PLC’s holdings in MSC Industrial Direct were worth $376,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fieldpoint Private Securities LLC purchased a new position in shares of MSC Industrial Direct in the fourth quarter valued at about $40,000. JJJ Advisors Inc. lifted its position in shares of MSC Industrial Direct by 418.7% in the fourth quarter. JJJ Advisors Inc. now owns 555 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 448 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of MSC Industrial Direct by 29.9% in the third quarter. Van ECK Associates Corp now owns 817 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 188 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of MSC Industrial Direct by 31.7% in the third quarter. Captrust Financial Advisors now owns 2,300 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 553 shares in the last quarter. Finally, AJO LP purchased a new position in shares of MSC Industrial Direct in the fourth quarter valued at about $197,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Several equities analysts have recently commented on MSM shares. Deutsche Bank Aktiengesellschaft lowered their price objective on MSC Industrial Direct from $90.00 to $89.00 and set a “hold” rating on the stock in a research report on Monday, April 5th. Wells Fargo & Company upgraded MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $105.00 in a research report on Thursday, April 8th. William Blair upgraded MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 7th. TheStreet downgraded MSC Industrial Direct from a “b” rating to a “c+” rating in a research report on Wednesday, April 7th. Finally, Zacks Investment Research downgraded MSC Industrial Direct from a “hold” rating to a “sell” rating in a research report on Wednesday, April 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and an average price target of $87.50.

In other news, SVP Steve Armstrong sold 18,223 shares of the company’s stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $90.03, for a total transaction of $1,640,616.69. Following the transaction, the senior vice president now owns 25,633 shares of the company’s stock, valued at $2,307,738.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Edward F. Martin, Jr. sold 871 shares of the company’s stock in a transaction that occurred on Thursday, January 21st. The shares were sold at an average price of $81.64, for a total value of $71,108.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,562 shares of company stock worth $8,660,531. Company insiders own 28.44% of the company’s stock.

Shares of MSM stock opened at $89.34 on Tuesday. MSC Industrial Direct Co., Inc. has a 1 year low of $56.16 and a 1 year high of $93.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $88.46 and its two-hundred day simple moving average is $81.18. The company has a market cap of $4.99 billion, a PE ratio of 22.17 and a beta of 0.99.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Tuesday, April 6th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. MSC Industrial Direct had a return on equity of 20.42% and a net margin of 7.14%. The business had revenue of $774.00 million for the quarter, compared to the consensus estimate of $778.77 million. During the same period in the prior year, the business posted $1.00 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that MSC Industrial Direct Co., Inc. will post 4.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 27th. Shareholders of record on Tuesday, April 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, April 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.36%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 63.29%.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its 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.

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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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