Sanctuary Advisors LLC Invests $361,000 in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Sanctuary Advisors LLC purchased a new position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSMFree Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,550 shares of the industrial products company’s stock, valued at approximately $361,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MSM. Blue Trust Inc. raised its position in shares of MSC Industrial Direct by 1,142.3% during the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 297 shares during the period. Ridgewood Investments LLC bought a new position in MSC Industrial Direct during the 2nd quarter valued at $26,000. Quest Partners LLC boosted its stake in MSC Industrial Direct by 35,300.0% during the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 353 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in MSC Industrial Direct during the 1st quarter valued at $29,000. Finally, Bessemer Group Inc. boosted its stake in shares of MSC Industrial Direct by 261.7% during the 1st quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 280 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $84.06 on Friday. 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 $105.52. The business has a fifty day simple moving average of $81.92 and a 200 day simple moving average of $84.96. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 16.32 and a beta of 0.86.

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. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, November 13th. MSC Industrial Direct’s dividend payout ratio (DPR) is 66.02%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Loop Capital reduced their price objective on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Robert W. Baird raised their price objective on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on 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. Based on data from MarketBeat, MSC Industrial Direct currently has a consensus rating of “Hold” and an average target price of $91.60.

Read Our Latest Research Report on MSM

MSC Industrial Direct Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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