NorthCrest Asset Manangement LLC Makes New $783,000 Investment in MSC Industrial Direct Company, Inc. $MSM

NorthCrest Asset Manangement LLC purchased a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,073 shares of the industrial products company’s stock, valued at approximately $783,000.

A number of other institutional investors also recently bought and sold shares of MSM. VELA Investment Management LLC acquired a new stake in shares of MSC Industrial Direct in the 2nd quarter valued at about $3,789,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of MSC Industrial Direct in the 2nd quarter valued at approximately $1,392,000. California State Teachers Retirement System increased its stake in MSC Industrial Direct by 27.5% in the 1st quarter. California State Teachers Retirement System now owns 53,748 shares of the industrial products company’s stock valued at $4,959,000 after buying an additional 11,580 shares during the period. Wellington Management Group LLP raised its position in MSC Industrial Direct by 13.0% during the 2nd quarter. Wellington Management Group LLP now owns 236,504 shares of the industrial products company’s stock worth $28,132,000 after buying an additional 27,171 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of MSC Industrial Direct by 43.0% in the 1st quarter. Deprince Race & Zollo Inc. now owns 705,775 shares of the industrial products company’s stock worth $65,122,000 after acquiring an additional 212,074 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

MSC Industrial Direct Trading Down 1.5%

NYSE:MSM opened at $130.54 on Friday. The stock has a fifty day moving average price of $122.90 and a two-hundred day moving average price of $115.27. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 31.53 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. MSC Industrial Direct Company, Inc. has a 1 year low of $78.80 and a 1 year high of $133.65.

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.7%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, November 10th. MSC Industrial Direct’s dividend payout ratio (DPR) is 84.06%.

Analysts Set New Price Targets

MSM has been the topic of several analyst reports. Wall Street Zen raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Barclays started coverage on shares of MSC Industrial Direct in a report on Tuesday. They set an “overweight” rating and a $152.00 price target for the company. Zacks Research downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. KeyCorp raised their price objective on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Finally, Rothschild & Co Redburn began coverage on MSC Industrial Direct in a report on Monday, July 13th. They issued a “buy” rating and a $155.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, MSC Industrial Direct has an average rating of “Moderate Buy” and a consensus target price of $127.62.

MSC Industrial Direct News Roundup

Here are the key news stories impacting MSC Industrial Direct this week:

• Positive Sentiment: Analyst upgrade and higher price target: Barclays initiated coverage with an “overweight” rating and a $152 price target, implying additional upside from recent levels. The endorsement could support investor confidence in MSC Industrial’s valuation and outlook.
• Positive Sentiment: Quarterly dividend increased: MSC Industrial raised its quarterly dividend 2.3%, from $0.87 to $0.89 per share. The dividend is payable November 25 to shareholders of record November 11, providing a modestly improved income return and signaling continued cash-flow confidence. MSC Industrial Supply Co. Declares Increase in Regular Quarterly Dividend
• Positive Sentiment: Earnings beat potential: Zacks said MSC Industrial has characteristics associated with a possible earnings beat, while Wall Street expects year-over-year earnings growth in the upcoming report. A stronger-than-expected result could provide a near-term catalyst. MSC Industrial Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Upcoming earnings event: MSC Industrial is projected to report quarterly results next week. Until the release, trading may remain sensitive to estimates, industrial-demand trends, margins and management guidance. MSC Industrial Direct Projected to Post Quarterly Earnings

MSC Industrial Direct Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.