Atria Wealth Solutions Inc. Decreases Stock Position in MSC Industrial Direct Company, Inc. $MSM

Atria Wealth Solutions Inc. cut its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 21.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,084 shares of the industrial products company’s stock after selling 851 shares during the period. Atria Wealth Solutions Inc.’s holdings in MSC Industrial Direct were worth $262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in MSC Industrial Direct by 47.1% in the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 218 shares during the period. Janney Montgomery Scott LLC boosted its holdings in MSC Industrial Direct by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 337 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in MSC Industrial Direct by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company’s stock valued at $705,000 after purchasing an additional 388 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in MSC Industrial Direct in the first quarter valued at $897,000. Finally, Farther Finance Advisors LLC lifted its holdings in 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 worth $46,000 after buying an additional 537 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on MSC Industrial Direct from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Loop Capital lifted their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, July 2nd. Wolfe Research downgraded MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MSC Industrial Direct in a report on Wednesday, October 8th. Finally, Stephens lifted their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $91.00.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $88.10 on Wednesday. The stock has a market capitalization of $4.91 billion, a PE ratio of 24.89 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 52-week low of $68.10 and a 52-week high of $94.31. The stock’s 50-day moving average price is $89.84 and its 200 day moving average price is $84.66. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be given a $0.87 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, November 12th. This represents a $3.48 annualized dividend and a yield of 3.9%. MSC Industrial Direct’s payout ratio is presently 98.31%.

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.