Janney Montgomery Scott LLC grew its position in MSC Industrial Direct Co., Inc. (NYSE:MSM – Free Report) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,871 shares of the industrial products company’s stock after purchasing an additional 964 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MSC Industrial Direct were worth $845,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its stake in MSC Industrial Direct by 34.8% during the 1st quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company’s stock worth $467,024,000 after acquiring an additional 1,414,485 shares in the last quarter. Norges Bank acquired a new stake in MSC Industrial Direct during the 4th quarter worth $38,273,000. Pacer Advisors Inc. acquired a new stake in MSC Industrial Direct during the 2nd quarter worth $35,168,000. American Century Companies Inc. raised its stake in MSC Industrial Direct by 9.8% during the 1st quarter. American Century Companies Inc. now owns 2,926,338 shares of the industrial products company’s stock worth $245,812,000 after acquiring an additional 259,981 shares in the last quarter. Finally, River Road Asset Management LLC raised its stake in MSC Industrial Direct by 177.4% during the 1st quarter. River Road Asset Management LLC now owns 396,064 shares of the industrial products company’s stock worth $33,269,000 after acquiring an additional 253,263 shares in the last quarter. 89.51% of the stock is currently owned by institutional investors and hedge funds.
MSC Industrial Direct Stock Up 1.2 %
Shares of NYSE:MSM opened at $93.65 on Friday. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 14.61 and a beta of 1.02. The firm’s 50-day simple moving average is $98.62 and its 200-day simple moving average is $96.12. The company has a quick ratio of 0.86, a current ratio of 1.93 and a debt-to-equity ratio of 0.12. MSC Industrial Direct Co., Inc. has a fifty-two week low of $76.75 and a fifty-two week high of $105.77.
MSC Industrial Direct Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be issued a $0.83 dividend. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.55%. MSC Industrial Direct’s payout ratio is presently 49.30%.
Wall Street Analyst Weigh In
MSM has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of MSC Industrial Direct from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, June 30th. Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $104.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, June 30th. Loop Capital raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and raised their price objective for the stock from $96.00 to $124.00 in a research report on Monday, October 9th. Finally, StockNews.com initiated coverage on shares of MSC Industrial Direct in a research report on Thursday, October 5th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Moderate Buy” and an average price target of $105.60.
Read Our Latest Research Report on MSM
MSC Industrial Direct Profile
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, 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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