MSC Industrial Direct Company, Inc. $MSM Stock Position Raised by Tectonic Advisors LLC

Key Points

• Tectonic Advisors LLC increased its holdings in MSC Industrial Direct by 13.8% in the second quarter, bringing its total shares to 92,344, valued at approximately $7.85 million.
• Analyst ratings for MSC Industrial Direct show a shift, with Wolfe Research downgrading the stock to "peer perform", while Robert W. Baird raised its target price from $84.00 to $95.00.
• MSC Industrial Direct announced a quarterly dividend increase to $0.87 per share, representing an annual yield of 3.9%, with shares trading around $89.52.

Tectonic Advisors LLC raised its position in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 13.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,344 shares of the industrial products company's stock after purchasing an additional 11,164 shares during the period. Tectonic Advisors LLC owned 0.17% of MSC Industrial Direct worth $7,851,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC acquired a new position in shares of MSC Industrial Direct during the 1st quarter valued at about $25,000. Investment Management Corp VA ADV increased its holdings in shares of MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 268 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of MSC Industrial Direct during the 1st quarter valued at about $32,000. Farther Finance Advisors LLC increased its holdings in shares of MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 537 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Analyst Ratings Changes

MSM has been the topic of a number of analyst reports. Wolfe Research lowered MSC Industrial Direct from an "outperform" rating to a "peer perform" rating in a report on Wednesday. Robert W. Baird raised their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Zacks Research lowered MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of MSC Industrial Direct in a report on Wednesday. Finally, Stephens raised their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $90.33.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $89.52 on Thursday. MSC Industrial Direct Company, Inc. has a 1-year low of $68.10 and a 1-year high of $94.31. The firm has a market capitalization of $4.98 billion, a PE ratio of 25.29 and a beta of 0.95. The business's 50 day moving average is $89.71 and its 200-day moving average is $84.07. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.9%. 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 96.05%.

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.

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