TD Asset Management Inc Acquires 280 Shares of MSC Industrial Direct Company, Inc. $MSM

TD Asset Management Inc increased its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,855 shares of the industrial products company’s stock after acquiring an additional 280 shares during the quarter. TD Asset Management Inc owned about 0.21% of MSC Industrial Direct worth $9,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new position in shares of MSC Industrial Direct in the 2nd quarter worth about $482,000. Blue Trust Inc. increased its stake in shares of MSC Industrial Direct by 72.3% in the 2nd quarter. Blue Trust Inc. now owns 1,477 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 620 shares in the last quarter. Tectonic Advisors LLC increased its stake in shares of MSC Industrial Direct by 13.8% in the 2nd quarter. Tectonic Advisors LLC now owns 92,344 shares of the industrial products company’s stock worth $7,851,000 after acquiring an additional 11,164 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of MSC Industrial Direct by 2.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 13,100 shares of the industrial products company’s stock worth $1,114,000 after acquiring an additional 300 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in MSC Industrial Direct during the 2nd quarter valued at about $2,068,000. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM opened at $85.85 on Friday. The firm’s 50-day moving average price is $89.76 and its 200-day moving average price is $84.46. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The company has a market cap of $4.78 billion, a PE ratio of 24.25 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 52-week low of $68.10 and a 52-week high of $94.31.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.85. MSC Industrial Direct’s payout ratio is 98.31%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MSM. Zacks Research lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Wolfe Research lowered shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. Loop Capital raised their price objective on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the company a “hold” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of MSC Industrial Direct from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.00.

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.