MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,817 shares of the industrial products company’s stock after selling 405 shares during the quarter. Bleakley Financial Group LLC’s holdings in MSC Industrial Direct were worth $673,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Entropy Technologies LP purchased a new position in MSC Industrial Direct in the 1st quarter worth about $775,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in MSC Industrial Direct by 183.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,323 shares of the industrial products company’s stock worth $2,142,000 after acquiring an additional 14,451 shares during the period. Swedbank AB acquired a new position in shares of MSC Industrial Direct in the 1st quarter valued at about $16,571,000. Sei Investments Co. increased its holdings in shares of MSC Industrial Direct by 7.4% in the 1st quarter. Sei Investments Co. now owns 130,123 shares of the industrial products company’s stock valued at $12,627,000 after purchasing an additional 8,971 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of MSC Industrial Direct during the first quarter worth approximately $1,253,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MSM. Loop Capital dropped their price objective on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Robert W. Baird increased their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $91.60.

MSC Industrial Direct Stock Down 2.1 %

MSM opened at $82.43 on Tuesday. The business has a 50 day moving average of $81.98 and a 200-day moving average of $84.74. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 16.01 and a beta of 0.86. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a 1-year low of $75.05 and a 1-year high of $104.76.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.12%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 13th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 66.02%.

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, 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.