Hennion & Walsh Asset Management Inc. Has $1.67 Million Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Hennion & Walsh Asset Management Inc. trimmed its stake in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,011 shares of the industrial products company’s stock after selling 1,265 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in MSC Industrial Direct were worth $1,666,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in MSC Industrial Direct by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 829,779 shares of the industrial products company’s stock worth $84,024,000 after purchasing an additional 32,312 shares during the period. Capital Research Global Investors grew its holdings in shares of MSC Industrial Direct by 14.8% during the fourth quarter. Capital Research Global Investors now owns 775,000 shares of the industrial products company’s stock valued at $78,476,000 after buying an additional 100,000 shares during the last quarter. Norges Bank acquired a new position in shares of MSC Industrial Direct during the fourth quarter valued at about $56,088,000. Clearbridge Investments LLC grew its holdings in shares of MSC Industrial Direct by 11.0% during the fourth quarter. Clearbridge Investments LLC now owns 544,540 shares of the industrial products company’s stock valued at $55,140,000 after buying an additional 54,122 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in shares of MSC Industrial Direct by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 244,000 shares of the industrial products company’s stock valued at $23,678,000 after buying an additional 30,200 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Performance

MSM stock traded up $0.64 during mid-day trading on Monday, hitting $81.14. The company had a trading volume of 119,337 shares, compared to its average volume of 555,327. The firm has a market cap of $4.55 billion, a PE ratio of 15.77 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. MSC Industrial Direct Co., Inc. has a 12 month low of $75.05 and a 12 month high of $105.77. The stock’s fifty day moving average price is $81.22 and its two-hundred day moving average price is $89.93.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, hitting the consensus estimate of $1.33. The business had revenue of $979.40 million for the quarter, compared to analyst estimates of $979.10 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 earnings per share. On average, analysts forecast that MSC Industrial Direct Co., Inc. will post 4.84 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 64.47%.

Insider Activity

In other news, SVP Kimberly Shacklett sold 4,885 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total value of $413,271.00. Following the sale, the senior vice president now owns 12,897 shares of the company’s stock, valued at $1,091,086.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 18.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MSM shares. 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 report on Wednesday, July 3rd. StockNews.com cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. KeyCorp cut shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. JPMorgan Chase & Co. cut their price target on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. 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, MSC Industrial Direct currently has an average rating of “Hold” and a consensus 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.