Twelve Points Wealth Management LLC Increases Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Twelve Points Wealth Management LLC grew its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 12.2% in the third quarter, HoldingsChannel.com reports. The firm owned 8,539 shares of the industrial products company’s stock after buying an additional 929 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in MSC Industrial Direct were worth $735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in MSC Industrial Direct by 1,142.3% in the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 297 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of MSC Industrial Direct during the second quarter valued at approximately $26,000. UMB Bank n.a. lifted its stake in MSC Industrial Direct by 442.1% in the third quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 252 shares during the period. Quest Partners LLC boosted its holdings in MSC Industrial Direct by 35,300.0% in the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 353 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in MSC Industrial Direct during the 1st quarter valued at $29,000. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Trading Up 0.3 %

Shares of NYSE MSM opened at $82.68 on Thursday. The stock has a market cap of $4.64 billion, a P/E ratio of 16.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92. MSC Industrial Direct Co., Inc. has a 1 year low of $75.05 and a 1 year high of $105.77. The firm has a 50-day moving average of $81.84 and a 200 day moving average of $84.97.

MSC Industrial Direct Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MSM shares. JPMorgan Chase & Co. dropped 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 report on Wednesday, July 3rd. Loop Capital lowered their price objective on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, Robert W. Baird upped their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, MSC Industrial Direct has an average rating of “Hold” and an average target price of $91.60.

About MSC Industrial Direct

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.