Sequoia Financial Advisors LLC Buys Shares of 5,667 MSC Industrial Direct Company, Inc. $MSM

Sequoia Financial Advisors LLC bought a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) during the 2nd quarter, Holdings Channel reports. The firm bought 5,667 shares of the industrial products company’s stock, valued at approximately $482,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. grew its stake 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 purchasing an additional 231,961 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 buying an additional 88,247 shares during the period. Boston Partners lifted 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 buying an additional 327,833 shares during the period. Invesco Ltd. lifted 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 buying an additional 33,607 shares during the period. Finally, Epoch Investment Partners Inc. lifted 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 buying an additional 126,765 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wolfe Research cut MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 8th. Zacks Research cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Robert W. Baird raised their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price target on MSC Industrial Direct from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Stephens lifted their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $91.00.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $86.92 on Tuesday. The stock has a fifty day moving average price of $89.80 and a 200 day moving average price of $84.64. The stock has a market cap of $4.84 billion, a PE ratio of 24.55 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $94.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, November 12th. MSC Industrial Direct’s payout ratio is presently 96.05%.

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.