Norges Bank acquired a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 706,066 shares of the industrial products company’s stock, valued at approximately $59,380,000.
A number of other large investors also recently modified their holdings of MSM. Allworth Financial LP raised its stake in shares of MSC Industrial Direct by 25.9% during the 4th quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 129 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of MSC Industrial Direct by 0.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company’s stock valued at $3,169,000 after buying an additional 136 shares in the last quarter. GAMMA Investing LLC increased its holdings in MSC Industrial Direct by 22.1% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the industrial products company’s stock worth $65,000 after buying an additional 141 shares during the last quarter. HighTower Advisors LLC increased its holdings in MSC Industrial Direct by 0.3% during the fourth quarter. HighTower Advisors LLC now owns 50,418 shares of the industrial products company’s stock worth $4,240,000 after buying an additional 147 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in MSC Industrial Direct by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 153 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.
MSC Industrial Direct Stock Performance
Shares of NYSE MSM opened at $115.48 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.73 and a quick ratio of 0.78. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 31.04 and a beta of 0.84. The stock’s fifty day moving average price is $101.46 and its two-hundred day moving average price is $92.83. MSC Industrial Direct Company, Inc. has a one year low of $78.80 and a one year high of $118.52.
MSC Industrial Direct Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Wednesday, April 8th. MSC Industrial Direct’s dividend payout ratio is presently 93.55%.
Analysts Set New Price Targets
A number of brokerages have commented on MSM. KeyCorp increased their price target on shares of MSC Industrial Direct from $117.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MSC Industrial Direct in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, MSC Industrial Direct presently has an average rating of “Hold” and a consensus price target of $94.71.
Get Our Latest Report on MSC Industrial Direct
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.
In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.
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