Northwest Investment Counselors LLC Reduces Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Northwest Investment Counselors LLC trimmed its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,922 shares of the industrial products company’s stock after selling 536 shares during the quarter. Northwest Investment Counselors LLC’s holdings in MSC Industrial Direct were worth $854,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its holdings in MSC Industrial Direct by 85.1% in the 2nd quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock valued at $216,772,000 after acquiring an additional 1,256,706 shares during the last quarter. Swedbank AB acquired a new stake in MSC Industrial Direct during the first quarter worth approximately $16,571,000. Allspring Global Investments Holdings LLC grew its position in shares of MSC Industrial Direct by 804.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 173,653 shares of the industrial products company’s stock worth $13,772,000 after acquiring an additional 154,454 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of MSC Industrial Direct by 1,715.2% during the second quarter. Renaissance Technologies LLC now owns 143,400 shares of the industrial products company’s stock worth $11,373,000 after acquiring an additional 135,500 shares during the last quarter. Finally, Millennium Management LLC grew its position in MSC Industrial Direct by 458.4% in the 2nd quarter. Millennium Management LLC now owns 119,700 shares of the industrial products company’s stock valued at $9,493,000 after buying an additional 98,265 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

MSC Industrial Direct Trading Down 1.7 %

NYSE:MSM traded down $1.46 on Monday, reaching $82.76. The company’s stock had a trading volume of 134,444 shares, compared to its average volume of 556,112. The firm has a market cap of $4.64 billion, a PE ratio of 16.35 and a beta of 0.86. The business’s 50-day moving average price is $81.98 and its two-hundred day moving average price is $84.81. MSC Industrial Direct Co., Inc. has a 1-year low of $75.05 and a 1-year high of $104.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01.

MSC Industrial Direct Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 4.11%. MSC Industrial Direct’s payout ratio is presently 66.02%.

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.