nVerses Capital LLC Purchases 3,700 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

nVerses Capital LLC raised its holdings in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 3,700.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,800 shares of the industrial products company’s stock after buying an additional 3,700 shares during the period. nVerses Capital LLC’s holdings in MSC Industrial Direct were worth $327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MSM. American Century Companies Inc. boosted its position in MSC Industrial Direct by 85.1% during the second quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock valued at $216,772,000 after purchasing an additional 1,256,706 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MSC Industrial Direct by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the industrial products company’s stock worth $74,467,000 after purchasing an additional 61,022 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MSC Industrial Direct by 12.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company’s stock valued at $60,718,000 after buying an additional 84,967 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of MSC Industrial Direct by 1.9% in the second quarter. Disciplined Growth Investors Inc. MN now owns 606,702 shares of the industrial products company’s stock valued at $48,118,000 after buying an additional 11,257 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in MSC Industrial Direct by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 288,100 shares of the industrial products company’s stock worth $22,849,000 after buying an additional 44,100 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Loop Capital reduced their price target on 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 price objective on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MSC Industrial Direct has a consensus rating of “Hold” and an average target price of $91.60.

MSC Industrial Direct Stock Up 0.2 %

Shares of MSM opened at $84.20 on Friday. The firm has a market cap of $4.73 billion, a P/E ratio of 16.35 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 Co., Inc. has a 52 week low of $75.05 and a 52 week high of $104.76. The firm’s 50-day simple moving average is $81.98 and its 200 day simple moving average is $84.88.

MSC Industrial Direct Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.85 dividend. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.40 annualized dividend and a dividend yield of 4.04%. MSC Industrial Direct’s dividend payout ratio is presently 66.02%.

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.