NorthCrest Asset Manangement LLC Acquires New Shares in MSC Industrial Direct Company, Inc. $MSM

NorthCrest Asset Manangement LLC acquired a new position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,073 shares of the industrial products company’s stock, valued at approximately $783,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MSM. Elevation Wealth Partners LLC boosted its position in MSC Industrial Direct by 89.9% during the second quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of MSC Industrial Direct by 60.3% in the second quarter. Parkside Financial Bank & Trust now owns 319 shares of the industrial products company’s stock valued at $38,000 after buying an additional 120 shares in the last quarter. First Horizon Corp increased its position in shares of MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after buying an additional 201 shares in the last quarter. Compass Financial Management LLC purchased a new position in shares of MSC Industrial Direct in the second quarter valued at $143,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of MSC Industrial Direct during the 1st quarter worth $119,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of MSC Industrial Direct in a research report on Tuesday, September 15th. They issued a “peer perform” rating on the stock. Rothschild & Co Redburn began coverage on shares of MSC Industrial Direct in a research note on Monday, July 13th. They issued a “buy” rating and a $155.00 price objective on the stock. Jefferies Financial Group set a $130.00 target price on shares of MSC Industrial Direct in a report on Wednesday, July 1st. Barclays assumed coverage on shares of MSC Industrial Direct in a report on Tuesday. They set an “overweight” rating and a $152.00 target price for the company. Finally, Wall Street Zen upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $127.62.

Key Headlines Impacting MSC Industrial Direct

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 Trading Down 1.5%

Shares of MSC Industrial Direct stock opened at $130.54 on Friday. MSC Industrial Direct Company, Inc. has a 1 year low of $78.80 and a 1 year high of $133.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72. The business has a 50 day moving average price of $122.90 and a 200 day moving average price of $115.27. The company has a market capitalization of $7.29 billion, a P/E ratio of 31.53 and a beta of 0.82.

MSC Industrial Direct Increases Dividend

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

About MSC Industrial Direct

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.