Eliot Finkel Investment Counsel LLC Has $6.61 Million Stake in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Eliot Finkel Investment Counsel LLC reduced its position in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,854 shares of the industrial products company’s stock after selling 890 shares during the period. MSC Industrial Direct comprises about 4.1% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 12th largest holding. Eliot Finkel Investment Counsel LLC owned 0.14% of MSC Industrial Direct worth $6,614,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its stake in MSC Industrial Direct by 30.0% in the 1st quarter. GAMMA Investing LLC now owns 528 shares of the industrial products company’s stock valued at $51,000 after buying an additional 122 shares during the last quarter. Rockland Trust Co. lifted its position in shares of MSC Industrial Direct by 2.0% during the 1st quarter. Rockland Trust Co. now owns 10,471 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 207 shares during the period. FCF Advisors LLC grew its stake in MSC Industrial Direct by 8.0% during the first quarter. FCF Advisors LLC now owns 7,975 shares of the industrial products company’s stock worth $774,000 after buying an additional 592 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of MSC Industrial Direct during the 1st quarter worth approximately $1,413,000. Finally, Sound Income Strategies LLC increased its stake in shares of MSC Industrial Direct by 7.8% in the 1st quarter. Sound Income Strategies LLC now owns 102,141 shares of the industrial products company’s stock valued at $9,912,000 after purchasing an additional 7,397 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MSM has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. Loop Capital dropped their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on shares of 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. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.60.

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $84.20 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. The firm’s 50-day simple moving average is $81.98 and its 200 day simple moving average is $84.88. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 16.35 and a beta of 0.86. MSC Industrial Direct Co., Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $104.76.

MSC Industrial Direct Increases Dividend

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

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.