Northwestern Mutual Wealth Management Co. Boosts Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Northwestern Mutual Wealth Management Co. grew its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,673 shares of the industrial products company’s stock after purchasing an additional 308 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in MSC Industrial Direct were worth $212,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN raised its holdings in shares of MSC Industrial Direct by 1.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 606,702 shares of the industrial products company’s stock worth $48,118,000 after purchasing an additional 11,257 shares during the period. Algert Global LLC bought a new stake in shares of MSC Industrial Direct in the second quarter valued at $360,000. Scientech Research LLC purchased a new position in shares of MSC Industrial Direct during the 2nd quarter valued at $664,000. Millennium Management LLC lifted its position in shares of MSC Industrial Direct by 458.4% during the 2nd quarter. Millennium Management LLC now owns 119,700 shares of the industrial products company’s stock valued at $9,493,000 after buying an additional 98,265 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its holdings in MSC Industrial Direct by 2,533.3% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 711 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 684 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MSM shares. Loop Capital cut their target price on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Stephens reissued an “overweight” rating and set a $110.00 target price on shares of MSC Industrial Direct in a report on Friday, June 14th. KeyCorp lowered MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. JPMorgan Chase & Co. decreased their price objective on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, Robert W. Baird cut their target price on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Price Performance

NYSE:MSM opened at $81.33 on Friday. The stock has a fifty day moving average of $81.72 and a 200 day moving average of $85.48. MSC Industrial Direct Co., Inc. has a 52-week low of $75.05 and a 52-week high of $105.77. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 15.79 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.18%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s payout ratio is currently 64.47%.

Insider Buying and Selling

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $84.60, for a total transaction of $413,271.00. Following the completion of the sale, the senior vice president now owns 12,897 shares of the company’s stock, valued at $1,091,086.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.80% of the stock is owned by company insiders.

MSC Industrial Direct 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.