Verity Asset Management Inc. Boosts Holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Verity Asset Management Inc. raised its stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 29.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,178 shares of the industrial products company’s stock after buying an additional 1,414 shares during the quarter. Verity Asset Management Inc.’s holdings in MSC Industrial Direct were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in MSC Industrial Direct during the third quarter valued at $26,000. UMB Bank n.a. lifted its position in shares of 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 buying an additional 252 shares in the last quarter. Blue Trust Inc. boosted its stake in MSC Industrial Direct by 1,142.3% during the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock valued at $26,000 after buying an additional 297 shares during the last quarter. Ridgewood Investments LLC purchased a new position in MSC Industrial Direct during the 2nd quarter valued at approximately $26,000. Finally, Quest Partners LLC raised its holdings in shares of 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 worth $28,000 after acquiring an additional 353 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Performance

MSC Industrial Direct stock opened at $88.61 on Friday. MSC Industrial Direct Co., Inc. has a 1-year low of $75.05 and a 1-year high of $104.76. The company’s 50-day moving average is $82.16 and its 200 day moving average is $83.76. The firm has a market capitalization of $4.95 billion, a P/E ratio of 19.35 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). The company had revenue of $952.30 million during the quarter, compared to analysts’ expectations of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS. Research analysts forecast that MSC Industrial Direct Co., Inc. will post 3.65 EPS for the current year.

MSC Industrial Direct Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.84%. MSC Industrial Direct’s dividend payout ratio is 72.49%.

Wall Street Analyst Weigh In

MSM has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird boosted 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, October 16th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, MSC Industrial Direct currently has a consensus rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Company 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.