MSC Industrial Direct Co Inc (MSM) Shares Sold by Brookstone Capital Management

Brookstone Capital Management trimmed its stake in MSC Industrial Direct Co Inc (NYSE:MSM) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,933 shares of the industrial products company’s stock after selling 556 shares during the period. Brookstone Capital Management’s holdings in MSC Industrial Direct were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of MSC Industrial Direct by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock valued at $246,031,000 after acquiring an additional 159,772 shares in the last quarter. American Century Companies Inc. boosted its position in shares of MSC Industrial Direct by 1,889.6% during the 3rd quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock valued at $158,638,000 after acquiring an additional 1,993,717 shares in the last quarter. State Street Corp boosted its position in shares of MSC Industrial Direct by 1.6% during the 2nd quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock valued at $105,113,000 after acquiring an additional 19,302 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of MSC Industrial Direct by 105.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock valued at $89,112,000 after acquiring an additional 604,873 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of MSC Industrial Direct by 52.7% during the 3rd quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock valued at $72,250,000 after acquiring an additional 332,893 shares in the last quarter. Institutional investors own 74.95% of the company’s stock.

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 30,803 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $80.64, for a total value of $2,483,953.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven N. Baruch sold 5,762 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $81.25, for a total transaction of $468,162.50. The disclosure for this sale can be found here. Insiders have sold a total of 924,103 shares of company stock valued at $85,457,977 over the last three months. 31.38% of the stock is currently owned by insiders.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Wednesday, January 10th. Stephens set a $114.00 target price on shares of MSC Industrial Direct and gave the company a “buy” rating in a research report on Wednesday, January 10th. Susquehanna Bancshares reiterated a “hold” rating and set a $92.00 target price on shares of MSC Industrial Direct in a research report on Wednesday, January 3rd. TheStreet upgraded shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a research report on Tuesday, November 28th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of MSC Industrial Direct in a research report on Thursday, January 4th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $95.92.

MSC Industrial Direct Co Inc (NYSE MSM) opened at $88.63 on Wednesday. MSC Industrial Direct Co Inc has a 1-year low of $65.42 and a 1-year high of $105.70. The stock has a market cap of $5,036.44, a PE ratio of 21.41, a P/E/G ratio of 1.30 and a beta of 0.59. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The firm had revenue of $768.60 million for the quarter, compared to the consensus estimate of $770.95 million. During the same period in the prior year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. equities analysts predict that MSC Industrial Direct Co Inc will post 5.06 earnings per share for the current fiscal year.

MSC Industrial Direct declared that its Board of Directors has authorized a share buyback program on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were issued a dividend of $0.58 per share. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, January 12th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 56.04%.

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About MSC Industrial Direct

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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