TD Asset Management Inc Boosts Holdings in MSC Industrial Direct Company, Inc. $MSM

TD Asset Management Inc increased its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,855 shares of the industrial products company’s stock after buying an additional 280 shares during the quarter. TD Asset Management Inc’s holdings in MSC Industrial Direct were worth $9,935,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of MSC Industrial Direct by 47.1% in the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock worth $53,000 after buying an additional 218 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of MSC Industrial Direct by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company’s stock worth $463,000 after buying an additional 337 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of MSC Industrial Direct by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company’s stock worth $705,000 after buying an additional 388 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of MSC Industrial Direct in the first quarter worth approximately $897,000. Finally, Farther Finance Advisors LLC lifted its holdings in MSC Industrial Direct by 895.0% during the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 537 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MSM shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MSC Industrial Direct in a report on Wednesday, October 8th. Stephens lifted their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, July 2nd. Loop Capital lifted their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a “hold” rating in a report on Wednesday, July 2nd. Robert W. Baird lifted their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Finally, Zacks Research downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $91.00.

MSC Industrial Direct Trading Up 0.5%

MSC Industrial Direct stock opened at $85.85 on Friday. The stock has a market cap of $4.78 billion, a P/E ratio of 24.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $94.31. The firm’s 50 day moving average price is $89.76 and its 200-day moving average price is $84.46.

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.87 per share. The ex-dividend date is Wednesday, November 12th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.85. This represents a $3.48 annualized dividend and a dividend yield of 4.1%. MSC Industrial Direct’s dividend payout ratio (DPR) is 98.31%.

MSC Industrial Direct Company 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, 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.