Sequoia Financial Advisors LLC Purchases Shares of 5,667 MSC Industrial Direct Company, Inc. $MSM
Sequoia Financial Advisors LLC has acquired 5,667 shares of MSC Industrial Direct Company, Inc. (NYSE: MSM) valued at approximately $482,000. This acquisition occurred during the second quarter, as reported in a recent SEC filing. Other institutional investors have also increased their stakes in MSC Industrial Direct. The company recently announced a quarterly dividend increase to $0.87, payable on November 26th, with a dividend yield of 4.0%. MSC Industrial Direct has a market cap of $4.84 billion and a consensus rating of "Hold" from analysts.
Sequoia Financial Advisors LLC acquired a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,667 shares of the industrial products company's stock, valued at approximately $482,000.
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A number of other hedge funds have also made changes to their positions in the business. American Century Companies Inc. increased its holdings in shares of MSC Industrial Direct by 6.8% in the 1st quarter. American Century Companies Inc. now owns 3,650,221 shares of the industrial products company's stock valued at $283,513,000 after acquiring an additional 231,961 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of MSC Industrial Direct by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,781,503 shares of the industrial products company's stock valued at $138,369,000 after acquiring an additional 88,247 shares during the last quarter. Boston Partners increased its holdings in shares of MSC Industrial Direct by 22.9% in the 1st quarter. Boston Partners now owns 1,762,248 shares of the industrial products company's stock valued at $136,867,000 after acquiring an additional 327,833 shares during the last quarter. Invesco Ltd. increased its holdings in shares of MSC Industrial Direct by 2.8% in the 1st quarter. Invesco Ltd. now owns 1,240,418 shares of the industrial products company's stock valued at $96,343,000 after acquiring an additional 33,607 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of MSC Industrial Direct by 13.2% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,089,926 shares of the industrial products company's stock valued at $84,655,000 after acquiring an additional 126,765 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on MSM. Weiss Ratings reiterated a "hold (c+)" rating on shares of MSC Industrial Direct in a report on Wednesday, October 8th. Robert W. Baird increased their price objective on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Zacks Research downgraded MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Wolfe Research downgraded MSC Industrial Direct from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on MSC Industrial Direct from $89.00 to $93.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, MSC Industrial Direct currently has a consensus rating of "Hold" and a consensus price target of $91.00.
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MSC Industrial Direct Trading Up 1.2%
NYSE:MSM opened at $86.92 on Tuesday. The stock's 50 day moving average price is $89.80 and its 200 day moving average price is $84.64. The company has a market capitalization of $4.84 billion, a PE ratio of 24.55 and a beta of 0.95. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Company, Inc. has a 52-week low of $68.10 and a 52-week high of $94.31.
MSC Industrial Direct Increases Dividend
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a $0.87 dividend. This is an increase from MSC Industrial Direct's previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, November 12th. This represents a $3.48 annualized dividend and a dividend yield of 4.0%. MSC Industrial Direct's dividend payout ratio (DPR) is 96.05%.
MSC Industrial Direct Company Profile
(Free Report)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.
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