Handelsbanken Fonder AB Purchases 1,500 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Handelsbanken Fonder AB raised its position in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,830 shares of the industrial products company’s stock after purchasing an additional 1,500 shares during the period. Handelsbanken Fonder AB’s holdings in MSC Industrial Direct were worth $1,018,000 at the end of the most recent reporting period.

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

Insider Activity at MSC Industrial Direct

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. KeyCorp downgraded shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Loop Capital reduced their target price on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Robert W. Baird dropped their price target 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. Finally, Stephens reiterated an “overweight” rating and set a $110.00 price objective on shares of MSC Industrial Direct in a research report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, MSC Industrial Direct has a consensus rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Stock Performance

MSC Industrial Direct stock opened at $83.35 on Friday. The firm has a fifty day simple moving average of $81.73 and a two-hundred day simple moving average of $85.37. The company has a quick ratio of 0.92, a current ratio of 2.01 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 $105.77. The company has a market capitalization of $4.68 billion, a PE ratio of 16.18 and a beta of 0.86.

MSC Industrial Direct Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend yield of 4.08%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s payout ratio is 64.47%.

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.