Eliot Finkel Investment Counsel LLC Reduces Stock Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Eliot Finkel Investment Counsel LLC lessened its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 0.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 76,704 shares of the industrial products company’s stock after selling 150 shares during the quarter. MSC Industrial Direct makes up 3.6% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 12th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in MSC Industrial Direct were worth $5,729,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Levin Capital Strategies L.P. acquired a new stake in MSC Industrial Direct during the fourth quarter worth approximately $224,000. Altrius Capital Management Inc grew its position in MSC Industrial Direct by 0.3% in the 4th quarter. Altrius Capital Management Inc now owns 54,138 shares of the industrial products company’s stock valued at $4,044,000 after buying an additional 159 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of MSC Industrial Direct during the 4th quarter worth $920,000. Bank of New York Mellon Corp boosted its position in shares of MSC Industrial Direct by 9.7% during the 4th quarter. Bank of New York Mellon Corp now owns 793,184 shares of the industrial products company’s stock worth $59,243,000 after purchasing an additional 70,076 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of MSC Industrial Direct in the 4th quarter worth about $215,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of MSM stock opened at $80.40 on Friday. The stock’s fifty day simple moving average is $80.11 and its 200 day simple moving average is $81.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 19.19 and a beta of 0.91. MSC Industrial Direct Co., Inc. has a one year low of $72.79 and a one year high of $104.76.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The business had revenue of $928.50 million for the quarter, compared to analyst estimates of $904.90 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.23%. MSC Industrial Direct’s payout ratio is presently 81.15%.

Analyst Ratings Changes

Several research analysts have recently weighed in on MSM shares. Wolfe Research started coverage on shares of MSC Industrial Direct in a report on Thursday, January 16th. They set an “outperform” rating and a $95.00 price objective on the stock. Stephens downgraded shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price target for the company. in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $83.80.

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.