MSC Industrial Direct Co., Inc. (NYSE:MSM) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 15.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 200,945 shares of the industrial products company’s stock after acquiring an additional 27,292 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MSC Industrial Direct were worth $17,293,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MSM. Blue Trust Inc. raised its holdings in MSC Industrial Direct by 1,142.3% in the 2nd quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 297 shares during the last quarter. Ridgewood Investments LLC acquired a new position in MSC Industrial Direct in the 2nd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in MSC Industrial Direct in the 3rd quarter valued at $26,000. UMB Bank n.a. raised its holdings in MSC Industrial Direct by 442.1% in the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 252 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in MSC Industrial Direct by 35,300.0% in the 2nd quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 353 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Down 3.8 %

Shares of MSC Industrial Direct stock opened at $77.79 on Friday. The company has a fifty day moving average price of $82.03 and a 200 day moving average price of $84.47. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $104.76. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 15.10 and a beta of 0.86.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.37%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 13th. MSC Industrial Direct’s dividend payout ratio is 66.02%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Robert W. Baird upped their price objective on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Loop Capital dropped their price objective 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, JPMorgan Chase & Co. dropped their price objective on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, MSC Industrial Direct currently has a consensus rating of “Hold” and a consensus price target of $91.60.

About MSC Industrial Direct

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.