Victory Capital Management Inc. Sells 65,185 Shares of MSC Industrial Direct Company, Inc. $MSM

Victory Capital Management Inc. reduced its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 5.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,208,499 shares of the industrial products company’s stock after selling 65,185 shares during the quarter. Victory Capital Management Inc.’s holdings in MSC Industrial Direct were worth $111,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allianz Asset Management GmbH lifted its stake in 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 acquired a new stake in shares of MSC Industrial Direct during the 2nd quarter worth approximately $1,352,000. Arjuna Capital bought a new stake in shares of MSC Industrial Direct in the 3rd quarter valued at $4,274,000. Convergence Investment Partners LLC acquired a new position in shares of MSC Industrial Direct during the 3rd quarter valued at $1,190,000. Finally, Norges Bank bought a new position in MSC Industrial Direct during the second quarter worth $39,950,000. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Performance

Shares of MSC Industrial Direct stock opened at $91.59 on Thursday. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $96.99. The company has a quick ratio of 0.82, a current ratio of 1.73 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $88.87 and a 200-day moving average price of $88.38. The company has a market cap of $5.11 billion, a PE ratio of 25.02 and a beta of 0.81.

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

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th were issued a $0.87 dividend. The ex-dividend date was Wednesday, January 14th. This represents a $3.48 annualized dividend and a dividend yield of 3.8%. MSC Industrial Direct’s dividend payout ratio is currently 95.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $95.00 price target on shares of MSC Industrial Direct in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Wednesday, January 28th. Wall Street Zen lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Robert W. Baird set a $94.00 target price on MSC Industrial Direct in a report on Thursday, January 8th. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus price target of $90.50.

MSC Industrial Direct Profile

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.